Value-Added Tax is commonly known as Vat. It is an indirect taxation for the consumption of goods and services that are supplies by vendors in the economy. It is an indirect tax that is not deducted directly from your income, but is levied on the goods or services that you offer. Disclaimer: We are not the Government, we only represent clients at Government Institutions.
South African Companies which are Vat registered must charge an additional 14% on the prices of their products and services. This 14% will be allocated to Vat, payable to SARS. Most expenses will be Vat deductible, such as rent and most stock. There are two types of Vat Registration for which you can register.
Mandatory VAT Registration: As soon as your Company will notably exceed R 1 million in sales within a 12 month period, you will be liable to register for Vat at SARS.
Voluntary VAT Registration: We can register your new company for Vat immediately. Note that you do need to be able to supply invoices of R 50 000 or more, with the corresponding bank statements which acts as proof of this. Another option is to provide Invoices exceeding R4300.00 per month for two consecutive months.
VAT De-registration: If you are registered for VAT and you need to de-register, please click here for more information.
1. A Company. You need a Registered Pty Company.
If you don’t have a company, you can buy a Shelf Company with VAT.
Advantages to Register for Vat:
1. Quoting / Invoicing. Many Companies, especially those in the Transport and Construction Industry, require that your business MUST have a Vat Number on your Quotes or Invoices being sent to them.
2. Tenders and Contracts. In order to apply for Tenders / Contracts you will need to have a Vat number which you obtain when you Register for Vat.
3. Listing as a Service Provider. To be a listed supplier or service provider for large corporations / government institutions, you will need this certificate.
1. Apply below. After you have applied below we will request payment of the fees and information from you. We can then setup your application for this service.
2. SARS Offices. We will then visit SARS’s offices on your behalf. If you did it yourself, this process could take months. If you are not a SARS specialist, who understands their systems and have relationship with the Management, SARS’s services become a challenge.
3. Receive your Vat Number. Our SARS Department will ensure that your Company is registered for Vat and receives a Vat Number in the quickest possible timeframe.
Our in-house Tax Practitioner, Jack Liebenberg, is affiliated with:
|Tax Registration Verification||R 490|
|Tax Clearance Combo (Includes Tax Registration Verification)||R 990|
|Vat Registration (Mandatory /Voluntary)||R 1 990|
|Turnover Tax Registration||R 970|
|UIF / PAYE / SDL||R 1 890|
|Import / Export License
||R 3 750|
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