Understanding of VAT principles, regulations, and compliance, learning how to calculate, report, and manage VAT transactions for businesses or individuals. Additionally, you’ll explore VAT implications across various industries, understanding exemptions, and the impact of VAT on financial decisions and accounting practices.
In many countries, VAT is a significant source of government revenue and is thus subject to continuous changes and updates. Staying informed about these changes is crucial for businesses to remain compliant and competitive. Whether you’re an individual consumer or a business owner, knowledge of VAT can help you make informed financial decisions and navigate the complexities of taxation.
Course Content
- Introduction to VAT.
- Basic VAT concepts and terminology.
- VAT act and regulations.
- Who needs to register for VAT.
- How to register for VAT.
- Voluntary registration and deregistration.
- Record-keeping requirements.
- Invoicing rules and requirements.
- Filing VAT returns and payment of VAT.
- Electronic filing and payment.
- Standard VAT rate and zero-rated supplies.
- Exempt supplies.
- Special VAT rules for certain goods and services.
- Input tax and output tax.
- How to claim input tax credits.
- Adjustments to input tax and output tax.
- The VAT audit process.
- Common issues in VAT audits.
- How to deal with VAT assessments.
- VAT dispute resolution process.
- VAT rules for online sales.
- Cross-border E-commerce and VAT.
- VAT on digital services.
- Special VAT rules for industries such as agriculture, mining services.
- VAT implications for real estate transactions.
- Common errors in VAT compliance.
- Penalties for non-compliance.
- Best practices for VAT compliance.
- SARS voluntary disclosure programme.
- Changes in VAT legislation.
- Court cases related to VAT
- SARS updates and guidance on VAT
- VAT periods.
- Non-accredited: Short course only
- Duration: 1h 30m
- Delivery: Classroom/Online/Blended
- Access Period: 12 Months
