VAT Fundamentals and Foundations

Master VAT Fundamentals & Foundations in South Africa

This comprehensive self-study course demystifies VAT (Value Added Tax), perfect for individuals, staff, and financial managers needing to accurately calculate and submit VAT returns for their businesses. Whether you're new to VAT or looking to navigate exiting the system, this course provides essential insights into how VAT works.

Key Topics Covered:

• VAT Registration: Understand the necessary supporting documents and forms for registration. Learn the difference between voluntary and compulsory VAT registrations.
• Business Structure & VAT: Learn how selling a going concern impacts VAT registration for the purchaser. Cover registering separate activities, divisions, and branches for VAT purposes.
• E-filing Mastery: Gain practical skills in registering for VAT on E-filing. Learn to manage your user profile and access rights on the E-filing platform.
• Understanding Supplies: Define what constitutes a taxable supply. Explore the enterprise test to determine which activities are subject to VAT.
• VAT Rates: Clearly differentiate between the Standard Rate, Zero Rate, and Exempt VAT classifications.
• Pending VAT Numbers: Learn what to do when your VAT number is pending.
• Backdating & Back Claiming: Understand the procedures for new VAT vendors regarding back dating vs. back claiming.
• Section 18(4)(b): Navigate supplies made to a person prior to registration.
• Deregistration & Exit VAT: Understand the process of deregistration and the income tax consequences of Exit VAT.
• VAT Categories: Gain clarity on different VAT categories.
• The 10-Day Rule: Understand the implications of the 10-day rule on VAT.
• Invoice Basis vs. Accrual Basis: Compare accrual basis and invoice basis to the payment basis for VAT reporting.
• Time & Value of Supply Exceptions: Identify exceptions to the general time and value of supply rules.
• E-filing Invoices: Ensure compliance with the SARS checklist when submitting invoices.
• VAT201 Form: Learn how to accurately fill in the VAT201 form.

Course Includes:

• Video Presented Course: Engaging video lessons for easy learning.
• Downloadable Course Material: Comprehensive resources to support your understanding.
• Certificate of Training: Receive a certificate upon completion.
• SAIT Accredited: Earn 4 verifiable CPD points.

About the Presenter: Ruzel van Jaarsveld

Ruzel van Jaarsveld brings over 23 years of extensive financial and bookkeeping experience to this course. She has worked with diverse industries and corporate environments, possessing deep practical knowledge of trial balance, payroll, VAT, PAYE returns, Inventory control, Management Accounts, E-filing, and Import/Export procedures. As a seasoned facilitator with Biz Facility, Ruzel has presented numerous practical financial workshops to business owners and corporate financial staff nationwide.