Resources On-Demand

Overview Of all the taxes levied in South Africa, VAT (Value-Added Tax) is the one form of tax collection that impacts every individual in the country. Everyone pays VAT at some point in their lifetime which makes it one of the most important coll ection mechanisms available to SARS. For this reason, it is imperative that tax practitioners and accountants regularly refresh their technical and practical knowledge of the subject, enabling them to keep clients compliant, mitigate risk, and optimise business cash flow. In this two-part video series, VAT expert, Christo Theron, will walk participants through the theoretical and practical aspects of VAT and Customs, bringing old memories back to life. Session 1 sets the stage by revisiting persistent challenges faced by tax practitioners, including disputes with SARS. It addresses registration obligations, deregistration consequences, and the crucial role of proper documentation in preventing conflicts with tax authorities. Building upon this foundation, Session 2 delves deeper into the complexities of VAT and Customs matters, serving as a sequel to the initial discussion. It will focus on areas prone to practical challenges and disputes with SARS, often highlighted in frequently asked questions. Specifically, the session elaborates on Customs procedures and navigates through input tax intricacies, including non-deductible input tax and apportionment, drawing insights from recent rulings and case law. By attending these sessions, participants gain not only an understanding of the subject matter but also a practical framework to address these issues independently, thereby enhancing their self-sufficiency in tax compliance matters. Session 1 Video Content VAT Registration: Compulsory & Voluntary Registration Suppliers of Electronic Services Deregistration Customs Procedures: Home Use Procedure Warehousing Procedure Documentation: Tax Invoices: General & Electronic Services Debit & Credit Notes Customs Documentation Competencies Developed On completion of the video you will: Have gained an understanding and working knowledge of the two most commonly used Customs Procedures i.e. Home Use and the Warehousing Procedure. Have gained an understanding of the challenges experienced in registration as a VAT vendor and which will assist you to deal with SARS where disputes arise with regards to voluntary, compulsory or registration as a supplier of electronic services. Have revisited and be able to understand the importance of documentation in VAT compliance with specific reference to tax invoices, credit notes, debit notes and the link to Customs documentation. In summary, the webinar will be aimed at providing you with key competencies to ensure that day-to-day compliance with Customs and VAT requirements are appropriately managed and risks are timeously detected and remedied.

Overview Of all the taxes levied in South Africa, VAT (Value-Added Tax) is the one form of tax collection that impacts every individual in the country. Everyone pays VAT at some point in their lifetime which makes it one of the most important coll ection mechanisms available to SARS. For this reason, it is imperative that tax practitioners and accountants regularly refresh their technical and practical knowledge of the subject, enabling them to keep clients compliant, mitigate risk, and optimise business cash flow. In this two-part video series, VAT expert, Christo Theron, will walk participants through the theoretical and practical aspects of VAT and Customs, bringing old memories back to life. Session 1 sets the stage by revisiting persistent challenges faced by tax practitioners, including disputes with SARS. It addresses registration obligations, deregistration consequences, and the crucial role of proper documentation in preventing conflicts with tax authorities. Building upon this foundation, Session 2 delves deeper into the complexities of VAT and Customs matters, serving as a sequel to the initial discussion. It will focus on areas prone to practical challenges and disputes with SARS, often highlighted in frequently asked questions. Specifically, the session elaborates on Customs procedures and navigates through input tax intricacies, including non-deductible input tax and apportionment, drawing insights from recent rulings and case law. By attending these sessions, participants gain not only an understanding of the subject matter but also a practical framework to address these issues independently, thereby enhancing their self-sufficiency in tax compliance matters. Session 2  Webinar Content  VAT Compliance: Input tax Non-deductible input tax Apportionment Agents and Principals Commercial and Residential Accommodation Customs and Excise: The Export Procedure Temporary Admission Procedure Competencies Developed On completion of the webinar you will: Have gained further knowledge and understanding of commonly used Customs procedures and their application and impact on businesses. Specifically we shall be dealing with the Export Procedure and the Temporary Admission procedure. Have developed competencies to identify deductible and non-deductible input tax, and recent developments in apportionment of input tax. Have developed detailed knowledge and tools to treat and implement agent and principal relationships and ensure that they are managed appropriately. Have obtained detailed knowledge and the ability to distinguish between commercial and residential accommodation and the treatment of each, which currently consistently result in dispute with SARS. In summary, the webinar is aimed at providing you with key knowledge and competencies to ensure that day-to-day compliance with Customs and VAT requirements are appropriately managed and risks are timeously detected and remedied.