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Thread: Vat registration

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    Vat registration

    Do you register with vat or not?

    If you do not turnover the required limit for vat, do you register?

    If you say yes, then why?

    Copied from SARS website.

    WHO NEEDS TO REGISTER FOR VAT?

    Persons who make taxable supplies in excess of R1 million (from 1 March 2009) in any 12-month consecutive period are liable for compulsory VAT registration, but a person may also choose to register voluntarily provided that the minimum threshold of R50 000 (from 1 March 2010) has been exceeded in the past 12-month period.

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    This would mean you have to turnover an average of R80 000 per month.

    I might just make this amount my goal for the near future, think positive, think positive, think positive.

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    There was another thread on this topic somewhere in which the general consensus was that if you are selling to businesses then its worth your while to register. If you are selling to the public then its not worth the hassle.

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    I do all 3, domestic, commercial and industrial.

    I hear it is a mission to de-register from VAT, but want to hear what other people who have done it have to say.

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    Quote Originally Posted by murdock View Post
    I do all 3, domestic, commercial and industrial.
    Which makes up the biggest share by turnover?

    Not being registered for VAT helps you to be a little more price competitive (or put a bit more money in your pocket) when you are dealing with clients who are not VAT vendors.
    However, it puts you at a slight disadvantage when it comes to clients who are VAT registered (providing the client is comparing costs excluding VAT, which is the way they should do it if comparing pricing between a VAT registered provider and a non-VAT-registered provider).
    The trouble with opportunity is it normally comes dressed up as work.

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    it changes all the time...some months lots of commercial...other months lots of domestic...year end factory moves and stuff ...so its hard to say

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