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Full Member
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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Full Member
WILL SOMEBODY OR ANYBODY HELP!!!! HELLO THIS IS URGENT!!!
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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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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 pumping, Solar Geyser & Solar Security lighting solutions - www.microsolve.co.za
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Thanks given for this post:
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Full Member
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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Full Member
I CANT THINK OF ANYWAY ON HOW TO THANK U!!!! TAHNKS SO MUCH
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Full Member
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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Full Member
PLEASE READ!!!
PLEASE GIVE ME THE FORMULA FOR THE BREAK EVEN POINT AND EXPLAIN WHAT IT ACTUALLY IS!!!
THANKS
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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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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 pumping, Solar Geyser & Solar Security lighting solutions - www.microsolve.co.za
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Thank given for this post:
mbsmit (22-Oct-11), Mike Simmonds (28-Aug-11)
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