It is crucial for any business to understand the basic workings of VAT, the obligations to register and maintain compliance and to remain aware of the special rules affecting VAT.
Join us for an informative session to maintain your knowledge on this topic.
This session will cover the tax implications of the following:
- Basic overview of VAT:
- Registration: Compulsory vs voluntary
- Types of supplies
- Time and value of supplies: When to charge, when to claim
- Input VAT: When NOT to claim - prohibited items
- Accounting and VAT: What to look out for as an accountant processing VAT transactions
- Basic overview: The VAT 201 return and reconciliations
- Overview on specific matters: Cost recoveries and change in use adjustments
All taxpayers, practitioners and accounting professionals seeking guidance or more information on these matters are welcome.
