VAT Refresher part 2: Delving deeper into indirect tax compliance


Duration: 2 Hours

Price: R195.00

Video Type: Single

Presenter: Christo Theron
MTP(SA)

VAT

VAT
...

VAT Refresher part 2: Delving deeper into indirect tax compliance

Duration: 2 hours

Price: R195.00


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Title / Topic

VAT Refresher part 2: Delving deeper into indirect tax compliance

Presenters : Christo Theron


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 collection 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.

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