How does VAT work in South Africa?
Ойын-сауық
In this video I talk about Value added tax and how VAT works in South Africa. I also had a look at when you need to register for VAT in South Africa and how the process works, here is the list of questions I answer in the video
This video is part of the "starting a business" series
0:00 - 0:15 intro
0:15 - 0:25 What is VAT?
0:25 - 3:36 How does VAT work?
3:36 - 4:10 What is Input tax and what is Output tax?
4:10 - 5:25 When do you need to register for VAT?
5:25 - 10:48 What is the VAT registration requirements?
10:48 - 12:13 What is Zero rated VAT?
12:13 - 13:17 What are exempt supplies?
13:17 - 15:40 What are the different VAT periods? When do you have to pay VAT?
15:40 - 16:15 What are the requirements for VAT invoices?
Please remember to subscribe to the channel and like the video!
Пікірлер: 53
Thanks for the free advisory service. Most Accountants charge per hour forbthis information
@SAAccountingNetwork
9 ай бұрын
Happy to help
Happy to have found this Channel. Thank you
@SAAccountingNetwork
2 жыл бұрын
Welcome!
@SAAccountingNetwork
2 жыл бұрын
kzread.info/dash/bejne/oXdll8ipdq_berw.html
Thank you for the great work.
@SAAccountingNetwork
3 жыл бұрын
Thank you!
Another great video! Thanks for the lovely explanations!
@SAAccountingNetwork
4 жыл бұрын
Glad you enjoyed it!
@somkhandainyosi
8 ай бұрын
@@SAAccountingNetwork What's your contact details
Thank you for this informative video!
@SAAccountingNetwork
3 жыл бұрын
Glad it was helpful!
Very informative, thank you so much for this video.
@SAAccountingNetwork
3 жыл бұрын
Glad it was helpful!
Thank You, very informative and detailed.
@SAAccountingNetwork
4 ай бұрын
Glad you enjoyed it!
I like the way you explain your topics, you really help me alot. Thank you very much.
@SAAccountingNetwork
2 жыл бұрын
Thank you very much for your kind words! Its people like you who inspire me to keep on doing these videos!
@SAAccountingNetwork
2 жыл бұрын
kzread.info/dash/bejne/p5WO0dSuZpPZicY.html
Excellent
@SAAccountingNetwork
3 жыл бұрын
Thank you so much!
Succinct and useful. Thank you!
@SAAccountingNetwork
3 жыл бұрын
Glad it was helpful!
Thank you.
@SAAccountingNetwork
3 жыл бұрын
You're welcome!
much constructive, big up🤝
@SAAccountingNetwork
10 ай бұрын
Appreciated
Thank you for your video, very informative. Do you have a video regarding Insurer tax invoices with broker fee etc and what is VAT / Zero Rated.
@SAAccountingNetwork
2 ай бұрын
Unfortunately not, that is quite a specialized field
Heinrich thank you for this great video. Can our business claim VAT on a car repayments on a light passenger vehicle brought through the business on finance? Thanks
@SAAccountingNetwork
Жыл бұрын
kzread.info/dash/bejne/mouIrbmuZajVndI.html
Hi, thank you for this! I wanted to find out: If I am 90% service based what are my options? I can't see how registering for VAT would be in my best interest as a small business owner? I won't be able to claim back much. Our pricing is also already at the higher end of the market and upping it to cover the VAT would possibly price us out of the market. Do you have any advice for me? I want to operate within the law of course and still pay what I need to to SARS but would like to also understand things better. I currently have a team of makeup artists who contract out to me (not employed) and then I also have an Academy
@SAAccountingNetwork
Жыл бұрын
kzread.info/dash/bejne/fWlnsNKag8TdaMo.html
Hi im in the vegetation management services and have a contract that has been awarded in 2020. now my business runs mainly on petrol and diesel during cutting of grass, the rice of petroleum products has increased dramatically since then and we have been running at a loss since. what happens then if we are cannot pay VAT as the money is used to cover losses and other over head expenses?
@SAAccountingNetwork
Жыл бұрын
kzread.info/dash/bejne/k6No19KDd6zFgJM.html
I supply goods to government departments and I now want to register for VAT so I can open accounts with distributors/manufacturers and buy directly instead of the retail stores. Is it wise to register for VAT the same entity I use to supply or it's best I have a separate entity for supplying and different one for buying from distributors/manufacturers?
@SAAccountingNetwork
3 жыл бұрын
I personally would keep operations as simple as possible, so my recommendation would be to do it through one company
Great video, do you recommend any booking software
@SAAccountingNetwork
Жыл бұрын
kzread.info/dash/bejne/Yneh2MiDpMe8ccY.html
Can i take the 15% to use it to do something which will give me more money?then pay back the 15%
@SAAccountingNetwork
8 ай бұрын
In theory yes, but when they come knocking on your door you must have it ready!
Sir Let say I registered for VAT and the first two months of doing return I dnt make sales but I've got monthly expenses is SARS going to change me? If so why would they charge me and how much will it be and how is it calculated? Thank you. 🤝
@SAAccountingNetwork
2 жыл бұрын
kzread.info/dash/bejne/p5WO0dSuZpPZicY.html
do the first person in the chain not pay any vat? surley they dont get their stuff for free with out vat
@SAAccountingNetwork
13 күн бұрын
Yes, so if you are a farmer, miner or fisherman you cant claim input vat as you are not buying anything, but the expenses you incur to produce the products you can claim on, like machinery and operating expenses
Can you tell me about import tax
@SAAccountingNetwork
2 ай бұрын
That is quite a specialized field, best to chat to your accountant
Hi. Is this still relevant in 2023?
@SAAccountingNetwork
7 ай бұрын
Yes it is👍
@Ant_ertainment
7 ай бұрын
@@SAAccountingNetwork Thank you. This video helped me out a lot😌... You've got me as a sub🙏
Very informative 10/10.
@SAAccountingNetwork
Жыл бұрын
Glad you think so!
@SAAccountingNetwork
Жыл бұрын
kzread.info/dash/bejne/mouIrbmuZajVndI.html