VAT Compliance & Management
As SARS continues to roll out its VAT Modernisation Programme, VAT compliance is entering a new era of digitalisation and enhanced scrutiny. While the VAT Modernisation Programme is reshaping the way vendors interact with SARS—introducing greater automation, data-driven verifications, and real-time compliance expectations—it remains essential for vendors to get the basics right.
This webinar will equip you with the practical knowledge and tools needed to navigate the current VAT landscape, focusing on the accurate completion and submission of the VAT201 return, effective error correction, robust record keeping, and proactive management of VAT risks. We will also provide insights into the latest SARS practices and how the modernisation drive may impact your day-to-day VAT compliance activities.
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
CPD/CPE: 2.5 hours