VAT

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Value-Added Tax (VAT) is levied at 14% on the supply (and import) of most goods and services. VAT registration is mandatory for any business with a turnover in excess of R1 million within any twelve-month period. Voluntary registration is possible as soon as turnover exceeds R50,000 within any six-month period. From 1 March 2012, qualifying micro businesses registered for Turnover Tax may also register for VAT.

LouwCooper helps companies to decide whether to become voluntary VAT vendors and we are experienced in registering qualifying businesses efficiently. We further submit returns and payments on time; issue tax invoices for supplies made; maintain adequate records; facilitate monthly/ bi-monthly payments, etc.

Our practitioners have forged close relationships with the South African Revenue Service (SARS) and we closely monitor tax legislation and draft legislation. We provide:

  • VAT planning
  • VAT-related good governance services and support
  • Services related to the preparation and submission of VAT returns to SARS
  • SARS negotiations services
  • Assistance with SARS audits