Delisting from VAT?

[Pap_sak]

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....

[Elijah]

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.

[CLIVE-TRIANGLE]

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.

[Chrisjan B]

I have also read somewhere that you then need to register for turnover tax, can the tax experts may enlighten us?