VAT Compliance & Management
It is essential that VAT vendors take care when completing the VAT201 return. Although the net amount payable to or refundable by SARS may be correct, it is just as important to ensure that the correct amounts are included in the correct fields of the VAT return and that the VAT is declared in the correct tax period.
It is just as important to understand what the consequences of non-compliance with the VAT Act are and how to effectively manage these.
During this webinar we discuss:
VAT Compliance:
- Completing and submitting the VAT201 return.
- How to correct an error on a VAT201 return.
- High-level overview of the record keeping requirements in respect of VAT transactions.
VAT Management:
- The main differences between a SARS audit and a SARS verification.
- How to submit supporting documentation on eFiling.
- The requirements and practical issues in respect of VAT refunds.
- Penalties and interest that may be imposed in respect of the late payment or understatement of a VAT liability and when these may be remitted or reduced.
- High-level overview of the dispute resolution process and how to dispute a VAT201 return on eFiling.
- The objectives and importance of performing a VAT reconciliation.
This webinar will contribute to 2.5 hours CPD/CPE
Cost: R1 138.50 (inclusive of VAT) / R990.00 (exclusive of VAT)