Overview

A common trend in our courts recently is to embrace the principle that the purpose and structure of legislation must be considered when interpreting legislation. A good example of this is the recent judgement of Capitec Bank.

VAT has been with us since 1991. In the frame of reference of many taxpayers, VAT is still considered a simple tax that looks after itself. We sometimes get the impression that taxpayers do not appreciate the importance of VAT as part of the overall business cycles in an organisation.

This webinar examines the VAT Act and related bodies of law by re-visiting the basics of VAT. The broad network of the VAT Act is then linked to the challenges experienced in practice.  

The purpose of the webinar is to cement the fundamentals of VAT, see how changes have impacted on our historic view of VAT and to gain a new appreciation of VAT as a critical function in all registration.

Webinar Content

1. Introduction

2. The framework of the VAT Act

3. Output tax

• What is output tax?
  • Section 7(1) of the VAT Act
    • Meaning of a VAT enterprise
    • Meaning of goods
    • Meaning of services
    • Standard-rated supplies
    • Zero-rated supplies
    • Exempt supplies
  • Deemed supplies

4. Registration

• Compulsory
• Voluntary
• International groups of companies

5. Zero-rated exports of goods

• Direct exports of goods
• Indirect exports of goods
• Export of services

6. Input tax

• Classes of input tax
• Non-deductible input tax
• Documentation

7. Apportionment

Competencies Developed

On completion of the webinar you will:

• Have gained an understanding of the importance of the VAT Act as a systems and how it interacts with other systems and processes.
• Understand the nature and ambit of taxable supplies.
• Understand when the standard rate of VAT may be deviated from in favour of zero-rated or exempt supplies.
• Understand how the concept of input tax fits into the structure of the VAT Act.
• Understand and apply the principles governing the categories of non-deductible input tax
• Understand the basics of apportionment.

Presenter

Christo Theron (CA(SA) H Dip Tax (Wits) M Com Tax (UP)

Christo is a recognized specialist in the field of indirect taxes. As a technical expert Christo is responsible for the quality of all VAT and Customs and Excise opinions issued by TradeTaxPlus. He is a Chartered Accountant and holds a Masters Degree in Taxation at the University of Pretoria. Christo is the chairperson of the SAICA VAT Committee. He also presents most of the SAICA VAT seminars. Previously be presented all the LexisNexis VAT seminars. He has been involved in the Unisa Advanced Course in VAT for may years and have assisted to build the program as a leading educational tool in South Africa. He still presents the course.

CPD

Attending this webinar and the successful completion of the online assessment will secure a certificate of completion for 2 hours of Tax CPD.

Event Investment

Free for Tax Technician, Tax Practitioner, Tax Accountant CPD subscribers and Practice Packages. Not a CPD subscriber yet? Click here to register now.

• Regular price: R460.00
• SAIT member special discounted rate: R368.00
• Group booking discounts available when you register for a group.

Payments & Cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
• Kindly note that should payment not be received 2 days after the event, legal action will be taken
• Proof of payment will be requested at registration, if payment does not reflect on Tax Faculty's bank account.
• Cancellations:
  • Only written notice of cancellation will be recognized.
  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• Tax Faculty`s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.