*************Errors in your tax invoices could cost you thousands!
Errors in your tax invoices could cost you thousands! You may be liable for penalties, interest and even prosecution!
Are you sure that the tax
invoices you receive are issued properly? Are all the SARS requirements on the tax
invoice? Have you ever thought about it?
What if something is omitted from a tax
invoice on which you've already claimed input tax
Anyone who has ever experienced a SARS Vat audit will tell you the first thing the auditors check are your tax
To find out what errors NEVER to make on your tax
invoices, and what the SARS auditor will look for at audit time, book your seat at the VAT Masterclass here…
So what's wrong with the Oriental Plaza receipt?
Apart from the fact that the words tax
invoice, the address and VAT number (possibly) isn't on it, it's only partially issued in one of the 11 official languages of this country. And there's no indication of the currency type – i.e. Rand, Zimbabwean Dollar or Pound!
Did you know that it's a pre-requisite for the whole tax invoice to be issued in one of our official languages, and that it must be in Rand?
If you'd claimed the input tax
on this slip, do you think the SARS auditor would allow it?
And on the subject of the wording, if you held a document called 'VAT invoice' and claimed input tax
as indicted on it, would the document be valid?
As a VAT consultant and previous VAT law administrator at SARS, I see so many vendors getting their invoicing wrong. And you'd be surprised to learn that even one of SA's biggest retailers has been guilty of this very same error!
So at this year's VAT Masterclass
, I'll not only be dealing with these 2 issues on your tax
invoices. I'll also let you in on red flags SARS looks out for in your supporting documentation to try and deny your input tax
claim – so you can avoid this situation. And I'll show you missed input tax
deductions you can claim, but didn't know you could.
I'll be in the major cities – Johannesburg, Durban and Cape Town, so book your seat today
and make sure you don't miss out!
Book for 3 or more delegates and save 10% on your tickets. Email firstname.lastname@example.org
to get your discount.