Fundamentals of VAT: Ouput Tax
- Basic introduction to VAT:
- The basic VAT calculation
- Registration as a VAT vendor
- Invoice vs payment basis of accounting for VAT
- Overview of types of supplies
- Overview of when a vendor is liable for VAT (including the definitions of ‘enterprise’, ‘supply’, ‘goods’ & ‘services’)
- Consideration and value of a supply (including the VAT treatment of donations and deposits)
- Value & time of supply
- Overview of zero- rated and exempt supplies
- Deeming provisions, including:
- Fringe benefits
- Indemnity payments
- Debit and credit notes
- Other output tax adjustments
We work through many practical, day-to-day transactions that a debtor’s clerk would encounter, and will apply VAT principles covered to each transaction.
The webinar will contribute to 2 hours CPD/CPE.
Cost:
R632.50 (inclusive of VAT) / R550 (exclusive of VAT)
