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  1. #1
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    Delisting from VAT?

    When I had to register it was when my turnover would go over R1mill. Now, I am selling a shop and turnover will come way below R1mill - do I have to wait till year end or could I go deregister straight away? Would like to do it ASAP as I detest VAT....

  2. #2
    Bronze Member Elijah's Avatar
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    Hi Pap_sak

    You dont have to wait until year-end. You need to fill-in a Vat123 form and fax it through, can check for the fax number if you need it.

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    Pap_sak (09-May-13)

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    Beware of "exit VAT" if you de-register. Especially VAT claimed on fixed asset acquisitions; these you would be expected to pay back to SARS.

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    Dave A (10-May-13), Pap_sak (09-May-13)

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    Gold Member Chrisjan B's Avatar
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    I have also read somewhere that you then need to register for turnover tax, can the tax experts may enlighten us?

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