How does VAT work in South Africa?

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Күн бұрын

In this video I talk about Value added tax and how VAT works in South Africa. I also had a look at when you need to register for VAT in South Africa and how the process works, here is the list of questions I answer in the video
This video is part of the "starting a business" series
0:00 - 0:15 intro
0:15 - 0:25 What is VAT?
0:25 - 3:36 How does VAT work?
3:36 - 4:10 What is Input tax and what is Output tax?
4:10 - 5:25 When do you need to register for VAT?
5:25 - 10:48 What is the VAT registration requirements?
10:48 - 12:13 What is Zero rated VAT?
12:13 - 13:17 What are exempt supplies?
13:17 - 15:40 What are the different VAT periods? When do you have to pay VAT?
15:40 - 16:15 What are the requirements for VAT invoices?
Please remember to subscribe to the channel and like the video!

Пікірлер: 52

@vona5251 8 ай бұрын

Thanks for the free advisory service. Most Accountants charge per hour forbthis information

@SAAccountingNetwork 8 ай бұрын

Happy to help

@sadigitalmarketing9328 3 жыл бұрын

Another great video! Thanks for the lovely explanations!

@SAAccountingNetwork 3 жыл бұрын

Glad you enjoyed it!

@somkhandainyosi 8 ай бұрын

@@SAAccountingNetwork What's your contact details

@mandyarchery3780 2 жыл бұрын

Happy to have found this Channel. Thank you

@SAAccountingNetwork 2 жыл бұрын

Welcome!

@SAAccountingNetwork 2 жыл бұрын

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@Tsoga_Afrika 3 жыл бұрын

Very informative, thank you so much for this video.

@SAAccountingNetwork 3 жыл бұрын

Glad it was helpful!

@mamaribequeen5569 2 жыл бұрын

I like the way you explain your topics, you really help me alot. Thank you very much.

@SAAccountingNetwork 2 жыл бұрын

Thank you very much for your kind words! Its people like you who inspire me to keep on doing these videos!

@SAAccountingNetwork 2 жыл бұрын

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@zaakirh1 3 ай бұрын

Thank You, very informative and detailed.

@SAAccountingNetwork 3 ай бұрын

Glad you enjoyed it!

@divinemaredi8298 3 жыл бұрын

Thank you for this informative video!

@SAAccountingNetwork 3 жыл бұрын

Glad it was helpful!

@vincentmothiba2341 3 жыл бұрын

Thank you for the great work.

@SAAccountingNetwork 3 жыл бұрын

Thank you!

@safetytraininglicense 3 жыл бұрын

Succinct and useful. Thank you!

@SAAccountingNetwork 3 жыл бұрын

Glad it was helpful!

@1000ralphw 3 жыл бұрын

Excellent

@SAAccountingNetwork 3 жыл бұрын

Thank you so much!

@artwellmdineka3424 10 ай бұрын

much constructive, big up🤝

@SAAccountingNetwork 9 ай бұрын

Appreciated

@pablomogosi8712 3 жыл бұрын

Thank you.

@SAAccountingNetwork 3 жыл бұрын

You're welcome!

@llewellynerodrigues1119 2 ай бұрын

Thank you for your video, very informative. Do you have a video regarding Insurer tax invoices with broker fee etc and what is VAT / Zero Rated.

@SAAccountingNetwork Ай бұрын

Unfortunately not, that is quite a specialized field

@NazareenEbrahim Жыл бұрын

Heinrich thank you for this great video. Can our business claim VAT on a car repayments on a light passenger vehicle brought through the business on finance? Thanks

@SAAccountingNetwork Жыл бұрын

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@accentuatehairandmakeup Жыл бұрын

Hi, thank you for this! I wanted to find out: If I am 90% service based what are my options? I can't see how registering for VAT would be in my best interest as a small business owner? I won't be able to claim back much. Our pricing is also already at the higher end of the market and upping it to cover the VAT would possibly price us out of the market. Do you have any advice for me? I want to operate within the law of course and still pay what I need to to SARS but would like to also understand things better. I currently have a team of makeup artists who contract out to me (not employed) and then I also have an Academy

@SAAccountingNetwork Жыл бұрын

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@user-qo4qr9sr8k Жыл бұрын

Great video, do you recommend any booking software

@SAAccountingNetwork Жыл бұрын

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@mrgrehan9981 4 күн бұрын

do the first person in the chain not pay any vat? surley they dont get their stuff for free with out vat

@eduexplo4110 3 жыл бұрын

I supply goods to government departments and I now want to register for VAT so I can open accounts with distributors/manufacturers and buy directly instead of the retail stores. Is it wise to register for VAT the same entity I use to supply or it's best I have a separate entity for supplying and different one for buying from distributors/manufacturers?

@SAAccountingNetwork 3 жыл бұрын

I personally would keep operations as simple as possible, so my recommendation would be to do it through one company

@maidimodiba640 Жыл бұрын

Hi im in the vegetation management services and have a contract that has been awarded in 2020. now my business runs mainly on petrol and diesel during cutting of grass, the rice of petroleum products has increased dramatically since then and we have been running at a loss since. what happens then if we are cannot pay VAT as the money is used to cover losses and other over head expenses?

@SAAccountingNetwork Жыл бұрын

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@Synergy_World 7 ай бұрын

Can i take the 15% to use it to do something which will give me more money?then pay back the 15%

@SAAccountingNetwork 7 ай бұрын

In theory yes, but when they come knocking on your door you must have it ready!

@enkay2010 Жыл бұрын

Very informative 10/10.

@SAAccountingNetwork Жыл бұрын

Glad you think so!

@SAAccountingNetwork Жыл бұрын

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@mamaribequeen5569 2 жыл бұрын

Sir Let say I registered for VAT and the first two months of doing return I dnt make sales but I've got monthly expenses is SARS going to change me? If so why would they charge me and how much will it be and how is it calculated? Thank you. 🤝

@SAAccountingNetwork 2 жыл бұрын

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