I couldn't find an answer on this forum. Apologies if the question was answered before.
I'm busy starting a small business on my own after withdrawing from the previous CC (transferring my interest in CC to the other members).
I already have got some clients and I predict the annual turnover will likely be slightly less than R1-million at the end of the business year. I don't want to register VAT now until the turnover reaches the threshold.
The question is:
Should I add 14% VAT on every tax invoice issued by the company because the company will have to pay R 140 000 in VAT if the turnover reaches the R1-million mark?