START-UP OUTBOUND TOURIST BUSINESS

[Theo Swart]

START-UP OUTBOUND TOURIST BUSINESS

I would like to formalise an outbound tourism business and there is some formalities I need to get a full understanding off, and they are:

VAT (Value Added Tax)
The anticipated T/O will well in access of the present 300K-registration barrier as well above the much talked about R1m barrier.
Must the CC I am operating in register for VAT?
The fact that 99% of all the expenses of the CC will enter into invoiced and paid abroad, so I will have no VAT inputs!

Do I understand correctly hat there is no VAT on an Airfare tickets to International destinations. According to the Air Travel Act there is a airport tax per ticket but I don’t think that that tax can be used as a credit on VAT return.

So the VAT situation = No Value added.

Exchange Control Act.
If the CC pays bills and account out to overseas hotels, tour operators & suppliers in the access of R2m per year, is that allowed by the present Exchange control Act.

General
What are the practical implications if your bookkeeping is done in SA in SA Rand but all your purchase invoices is in various international currencies?
Which other regulations must I register or adhere to!

Any and all help and advice would be appreciated.