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Hi Dave
It all started with our auditor as he is an agent for CIPRO and in all fairness the system is there but the end result being to have the correct directors listed seems never ending.
just as a matter of interest what made you start this forum?
I suppose that the perception is that they are dealing either with a small, new entity without much of a track record. And in many cases that would be a correct perception. Its not necessarily a bad thing and probably means great customer service, however each buyer will have their own opinions.
I have never heard that you need to be VAT registered to import. That would be a very strange policy. Contact a clearing agent / shipper to verify that info.
Hi Dave, I'm just getting the info via our Financial person, apparently it changed to 2mil with the new Budget speech. I don't feel like reading the whole thing so if you have and say it's 1mil I'll drill the person giving me false info..
I do need to find a shipping agent rather urgently to sort this out, can any one possibly recommend some one, we are in Cape Town and it needs to come from China / Chenzhen .
Ok, got bored and read the Budget speech:"A vendor making taxable supplies of more than R1 million per annum must register for VAT and a vendor making taxable supplies of more than R50 000 but not more than R1 million per annum may apply for voluntary registration. Certain supplies are subject to a zero rate or are exempt from VAT."
But I suppose you still need to show them a 3 month statement were you are making more than R50k per month before you can register?
I got gatvol of trying to navigate all the government red tape bs on my own. People sharing the pain and finding ways to reduce it seemed like a good idea at the time. But it all got out of hand...
I believe you can get away with irregular once-offs, but SARS will insist on a regular importer of goods being VAT registered. The problem is imports attract output VAT as they land.
I've even heard rumours of people who purchase regularly from Amazon having issues.
R50k per annum... R4 166.67 in a month.
What has made SARS pretty twitchy about VAT registrations of late is they've been defrauded a small fortune by sharp operators. Ultimately, as long as you can establish your bona fides, they really don't have much of a choice but to register you/your cc for VAT.
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BusFact (08-Mar-11)
Ok, fair enough. Thanks for that.
The VAT registration process involves jumping through quite a few hoops nowdays. Proof of turnover, FICA everything, sit through an interview, etc etc. I recently registered a company for an import/export number and that too involved lots and lots of forms and certifying copies. So welcome to the world or red tape Marius.
OMG!!! What a load of ..... hehehe, I'm not put off, we doing this not matter how much Red tape gets thrown at us. I've Googled some more and found this handy site explaining what all is required for VAT registration: http://www.quick-companies.co.za/htm...t_and_tax.html
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Alcocks Electrical Services | Alcocks Pest Control & Entomological Services | Alcocks Hygiene Services
Well let me take this old thread and ask a post implementation (of Companies Act) question. Spoke to my bookkeeper but she has not registered any new companies recently. Is there any recommendation regarding a good site to register for the new pty ltd format?
I also would like to know if a trust can own this new pty ltd.
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