VAT RATE INCREASE FROM 14% TO 15% – HOW TO COMPLETE THE VAT201
The Minister of Finance announced a VAT rate increase from 14% to 15% effective 1 April 2018 in the 2018 Budget Speech. To assist you in preparing your VAT return (VAT201) submission, the South African Revenue Service (SARS) would like to bring the following to your attention: The new tax fraction applicable from 1 April 2018 […]
VAT INCREASE FROM 14% TO 15%
The Minister of Finance announced in his recent Budget Speech that the VAT rate would be increased from 14% to 15% with effect from 1 April 2018. Several important issues need to be considered to ensure a seamless transition. Generally, supplies of goods or services are deemed to be take place at the earlier of […]