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In order for us to file a VAT return we will need the following:
Schedule of output VAT (VAT charged on sales) for the period - normally two months.
Schedule of input VAT (VAT paid on purchases) for the period - normally two months.
Schedule of capital purchases & proof of payment - ensure it complies with the VAT act.
Schedule of capital sales and proof thereof - ensure it complies with the VAT act.
Your SARS login details, otherwise we can register you
Proof of payment
Please note: you must ensure that the invoices on sales and purchases comply with the VAT act; refer to the SARS website for further information.
Value added tax is also known as VAT and is currently levied at a rate of 15% on the consumption of goods and services.
Revenue is raised by the government by requiring certain businesses to register and charge VAT on the supply of goods and services and therefore becomes an agent on behalf of SARS for the collection of the VAT, this VAT is then paid over to SARS using the VAT returns on e filing.
Any vendor making a taxable supply of more than 1 million rand per year must register for VAT and is called a compulsory registration.
Any vendor with a turnover of less than 1 million per year can voluntary register for VAT - refer to the SARS website for more information