Understanding VAT (Value Added Tax) Online Course

Understanding VAT (Value Added Tax) - Online Course

Gain a solid foundation in Value Added Tax (VAT) with this essential course designed for business owners, finance professionals, and anyone involved in sales, purchasing, or accounting. Learn how VAT works in South Africa, when and how to register, calculate VAT, submit returns, and stay compliant with SARS regulations.

What is VAT?
Value Added Tax (VAT) is a consumption tax levied on the sale of goods and services in South Africa. This course explains the principles of VAT, including input and output tax, VAT registration thresholds, tax invoices, zero-rated and exempt supplies, and how to submit VAT returns accurately. You’ll learn how to manage VAT in day-to-day transactions and avoid costly compliance mistakes.

Key topics include:

  • Overview of VAT legislation in South Africa

  • How to calculate and record input and output VAT

  • VAT registration and deregistration processes

  • Completing and submitting VAT201 returns

  • Managing VAT audits and ensuring compliance

  • Understanding VAT on imports, exports, and digital services

Who Should Take This Course?
This course is ideal for:

  • Small business owners and entrepreneurs

  • Accountants and bookkeepers

  • Finance and admin professionals

  • Invoicing and procurement staff

  • Anyone needing VAT knowledge for business operations or compliance

By the end of this course, you’ll confidently manage VAT processes, ensure regulatory compliance, and reduce the risk of penalties through accurate reporting and documentation.

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 
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