My new start up is involved with the export of wine with ost of my expenses being incurred from August 2012. I am only ow in a position to register for vat. Im confident Ill be able to claim my net input for all my net costs to date.
My new start up is involved with the export of wine with ost of my expenses being incurred from August 2012. I am only ow in a position to register for vat. Im confident Ill be able to claim my net input for all my net costs to date.
Dave,
I meant purchases in order to stock the shop and other expenses to start off.
I went to a SAIPA seminar on Friday. The speaker covered VAT and the Tax Admin Act. She was brilliant!
The advice she gave us, was the following"
On the tax invoice, do not indicate that VAT is charged, but include VAT in the price, as you are deemed to be registered the moment you earn more than a million in any 12 months. She further said, that we should add a paragraph at the bottom of the invoice, explaining the situation.
But she said, that is what her firm does, and she could, to date, not get any answers from SARS in this regard.
Dave A (18-Feb-13)
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