VAT is an essential part of any business and yet it is an area that is often overlooked and misunderstood, resulting in unnecessary penalties and interest being payable to SARS.

Are you claiming ALL the VAT on allowable expenses in your organisation?

Did you know you can claim the VAT back for any COVID-19 related expenses in your business for example masks, sanitizer, signage for the procedure and screens/guards?

Did you know you can claim the VAT back for any meals enjoyed by you and your staff (including alcohol) while you are out of town on business for a period longer than one night?

Join us in this informative session as we work through the expenses that you can claim for VAT purposes, which you probably did not know about.

Content Discussed:

• The Full VAT Registration Process
• Back Dating vs Back Claiming (Section 18 (4) (b))
• Supplies made prior to registration
• Categories
• The 10-day rule
• What to do if VAT number is pending? Invoicing?
• Accounting Method: Accrual Basis or Payment Basis
• The Deregistration process and exit VAT
• VAT Expense deductions: To claim or not to claim?
• Fringe Benefits – Subject to VAT
• Fringe Benefits – Not Subject to VAT
• Motor Vehicles and modifications
• Entertainment & Accommodation
• Standard Rated, Zero Rated and Exempt Supplies – know the difference
• 2nd Hand Goods and Notional Input Tax
• Time and Value of supplies (when VAT is triggered)
• Special time and value of supplies (exceptions to the rule)
• Taxable Supplies & Input Tax Credits
• Cost Recoveries
• Agency transactions
• Deemed Supplies and Deemed Non-Supplies (Section 8 (14))
• Insurance Indemnity Payments
• Mixed Supplies (Apportionment)
• Excess Receipts / Over Payments (Section 8 (27))
• Change in Use
• Adjustments in respect of Zero-Rated Acquisitions (Section 18 (A))
• Disposal of a business as a going concern
• Company Cross-charges
• Recovery in the form of a cost recovery fee - MANAGEMENT FEE
• Recovery in the form of a cost recovery fee - REIMBURSEMENT (Agent/Principle)
• Input Tax specifically denied
• Day-to-Day Adjustments (Trade Discounts and Bad Debts)
• Tax Invoices, Copy Tax Invoices, Pro Forma Invoices, Debit Notes, Credit Notes
• How to complete the VAT201

All Included:

• Interactive live session
• Lunch, snacks & tea breaks
• Course material will be emailed to each delegate for self-printing due to Covid-19 precautions
• Certificate of training
• SAIT Accredited - 7 verifiable CPD points
• Optional assessment

Note: If you're unable to attend the live webinar on the scheduled date, you can still book and pay for the webinar – the course notes and a copy of the recording will be provided for self-study in your own time.