Easy VAT Calculations in 3 steps!

Are you aware that thanks to the self-assessment Vat system,
you’re an unofficial SARS agent?

That's why you must

Get your basic VAT calculations right the first time!

No matter how great your turnover, or how confusing your mix of exempt, deemed, notional or standard-rated supplies, there are still three basic steps to determine your Vat liability:

  • Step 1: Determine your output tax (i.e. the Vat you charged on your supplies). Make sure you apply the correct tax fraction.
  • Step 2: Calculate your input tax (i.e. the Vat you paid on any of those supplies)
  • Step 3: Pay the difference to SARS, or claim your refund! Remember that even if you work out that you have no Vat liability, but you're registered as a Vat vendor, you MUST still submit your return to SARS.

Were you aware of these three steps? Would you like to know how to calculate your Vat correctly?

Get your copy of the Practical Vat Loose Leaf Service. It covers all aspects of Vat law, written in easy to understand language and it gets updated frequently!

Check out all the Vat calculation topics covered in the Loose Leaf:

  • What is input tax and output tax?
  • What is a vendor?
  • Three basic steps to determine your Vat liability
  • Step by step: Calculating your Vat
Step 1: Determine your output tax
Step 2: Calculate your input tax
Step 3: Pay the difference or claim your refund!
  • How to complete your Vat return 100% correctly
  • Calculation of the diesel refund

Try our complete Vat Advisory Service risk-free for 14-days. As part of this service you'll receive the Practical Vat Loose Leaf, three Bonus Reports, Regular updates, the daily Tax Bulletin, Online access to past Vat Updates and access to the Vat Helpdesk.

What else you'll discover in the Practical Vat Loose Leaf, to help you take control of your Vat:

Checklists, to save you time and ensure you don't miss a thing!

  • 5 exceptions to the basic fringe benefits rule
  • 6 vehicles that SARS opens the doors to
  • 4 critical facts you must know about Vat when you receive an insurance settlement
  • Documents to attach to your Vat101 application
  • 6 basic rules about travel and Vat

Vat advice you can put into practice today:

  • Three basic steps to determine your Vat liability
  • How to complete your Vat return 100% correctly
  • 3 ways to resolve your dispute with SARS
  • 6 easy ways to pay your Vat
  • 6 types of activity that don't qualify for Vat registration
  • 18 Vat records you must keep
Best of all you can order the Practical Vat Loose Leaf Service
for a whole two weeks before you commit a cent.
Start your 14-day trial now!
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