VAT
From The Forum SA
Value added tax, or VAT, is a tax levied on most goods and services provided in South Africa. VAT is paid on the supply of goods or services, or the importation of goods and services.
The current standard rate of VAT is 14%.
Any person making taxable supplies in excess of R1 000 000.00 in any 12 month consecutive period must register as a VAT vendor. Any person may choose to register voluntarily provided that the minimum threshold of R50 000.00 annual turnover (increase in threshold effective from 1st March 2010) has been exceeded over the past 12 months.
Additional information
More information can be found in the SARS VAT Vendor Guide, VAT–404.
