Attending the course and successfully completing the post-assessment, will grant you
1.5 hour/s verifiable CPD, recognised by the various
professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc). Please note that the
CPD certificate will only be issued once the post-assessment has been completed.
The journey to coming to terms with taxes starts with the first step: understanding the bottom line and the basic principles that govern it.
This course aims to enable you to grasp the basis of Value Added Tax, why it is levied and how.
Please note that while these courses are presented as a series of related matters, they cannot be booked as a bundle and bookings are to be made for each course on its own.
This session will cover the following:
• Becoming liable and registering as a VAT vendor:
o What is an enterprise?
o When does VAT registration become compulsory?
o How does one determine the value of your taxable supplies for registration requirements?
o What happens when you cease to be a vendor?
• The driving force behind output VAT:
o What is a supply?
o When would output VAT have to be charged?
o What is the value on which output VAT will be based?
o When may vendors claim input taxes and when would it be denied?
• Knowing your supplies: distinguish between standard rated, zero rated and exempt
• Knowing your VAT periods and accounting basis
• VAT invoices, quotes and other related documents
• Navigating the eFiling system as a VAT vendor and completing the VAT201 return
All accounting or tax professionals or vendors charged with the responsibility of accounting for and submitting VAT returns.
