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Thread: HELP ON VAT PLEASE

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    pleASE HELP

    hi; can some one help me on the following topics by giving me a definition and example for each:
    vat exempt, zero rated.
    also; please explain the consequences for a business for the non payment of vat to sars.
    also; please help ,me by calculating the correct vat amount and show me the working out and formulas for the following:
    sales (inclusive vat)=456000
    sales (exclusive vat)=97000


    thanks
    How wonderful it is that nobody need wait a single moment before starting to improve the world. ~Anne Frank

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    WILL SOMEBODY OR ANYBODY HELP!!!! HELLO THIS IS URGENT!!!

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    Email problem Mike Simmonds's Avatar
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    May I suggest that you visit the SARS website and download the guide: VAT 404 - Guide for Vendors

    It would be a little unfair to expect the members of the forum to summarise the entire VAT act here for you, I think SARS has done a fair job themselves.

    Once you have gone through the guide, I am sure that help will come on specific problems.

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    rram (28-Aug-11)

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    Diamond Member Justloadit's Avatar
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    VAT is calculated using mathematics

    To calculate the VAT from a VAT inclusive figure, multiply the figure by 14 and divide by 114
    So R456,000.00 * 14/114 = R56,000.00 and the original amount is R 400,000.00 (Subtract the VAT amount from the original figure).

    To calculate the VAT on a VAT exclusive figure, simply multiply by 14 and divide by 100.
    So R97,000.00 *14/100 = R13,580.00 yielding a total of R110,580.00.
    To calculate the full figure with the VAT multiply by 1.14 so R96,000.00 * 1.14 = R110,580.00
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

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    rram (28-Aug-11)

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    HELP

    hi; can some one help me on the following topics by giving me a definition and example for each:
    vat exempt, zero rated.

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    I CANT THINK OF ANYWAY ON HOW TO THANK U!!!! TAHNKS SO MUCH

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    HELP ON VAT PLEASE

    hi; can I GET SOME ASSISITANCE on the following topics FOR MY ASSIGNMENT by giving me a definition and example for each:
    vat exempt, zero rated.
    also; please explain the consequences for a business for the non payment of vat to sars

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    PLEASE READ!!!

    PLEASE GIVE ME THE FORMULA FOR THE BREAK EVEN POINT AND EXPLAIN WHAT IT ACTUALLY IS!!!
    THANKS

  11. #9
    Email problem Mike Simmonds's Avatar
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    Just type 'break even point' in Google.

    I hope they are not charging you for this course, don't they supply any notes

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    geraldenek (29-Aug-11)

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    Diamond Member Justloadit's Avatar
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    Sounds like we are doing your assignment for you.

    Research is part of learning, getting answers with no effort ain't gonna make you make it.

    Time to start reading
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

  14. Thank given for this post:

    mbsmit (22-Oct-11), Mike Simmonds (28-Aug-11)

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