Whether you are a consumer, business professional or tax practitioner, VAT is a blunt reality for everyday consumption in South Africa.
As it is also the second largest contributor to income for SARS, it is crucial that those responsible for accounting for and submitting these taxes are equipped with the knowledge to perform their duties in the best interest of both the client and SARS.
The provisions of the VAT Act may sometimes be difficult to read and interpret, and often we run the risk of underutilising or underestimating them.
ProBeta Training offers specific sessions with a practical approach on specific areas in VAT, to assist in dealing with more complex matters and transactions.
This session will address items including, but not limited to, the following:
• Input taxes
• Apportionment rules
• Input tax denied
• Output taxes
• VAT and imports
• Deemed supplies
• Foreign electronic services
• Agent vs principal and cost recoveries
• Change in use adjustments
• Sale of going concerns
• 12 month expiry rules and bad debts
• Leases
• Directors and VAT
• Practical issues
