Fundamentals of VAT: Output 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 will 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: R690.00 (inclusive of VAT) / R600.00 (exclusive of VAT)