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  • Can SARS validly deliver an assessment to you via eFiling?
  • If you're like me, you probably think the answer to the question is 'yes'. Probably because you've received a SARS assessment in this way before. But have you ever just happened to find out by chance, that SARS issued an assessment to you via eFiling? And by the time you see it, you're passed the 30 day period to object. Well, I have good news for you. Just recently, as I was talking to Ala... ››› more
  • [27 October 2016]
  • This letter could save you R150 000 on your next VAT return
  • This letter could save you R150 000 on your next VAT return
    Don't file your next VAT return until you read this urgent message! Derek, one of our subscribers recently had R150 000 swiped out of his bank account by SARS! The problem? He filed his VAT return and claimed R30 000 input tax. But, this time, he triggered SARS' Review of VAT201 declaration letter. And he didn't respond to it. So SARS helped itself to his bank account. It not only took... ››› more
  • [27 October 2016]
  • What's wrong with this invoice?
  • What's wrong with this invoice?
    We all know that you can claim input tax for any amount less than R5 000, with an abbreviated, or shortened tax invoice. This means the name, address and VAT number of the buyer doesn't have to appear on the tax invoice. Essentially, it can be made out as 'cash'. Now have a look at this abbreviated tax invoice below. What do you think is glaringly wrong with it? Read on below... ... ››› more
  • [20 October 2016]
  • Did you get an assessment from SARS? Here's how to legally avoid paying up...
  • Did you get an assessment from SARS? Here's how to legally avoid paying up...
    Did you get an assessment from SARS where they reversed your input tax claims and now you suddenly find you owe them VAT? I've noticed most VAT vendors don't agree with these SARS assessments. And more often than not, SARS has gotten something wrong. But even if this is the case, by law, you need to pay now and argue later (section 167 and 168 of the Tax Admin Act). Unless you follow my ad... ››› more
  • [20 October 2016]
  • Claiming Vat for business travel: What you need to know...
  • Thanks to more and more global ventures, travel has become an integral part of doing business in South Africa. And that means in many cases business travel expenses are adding to your Vat headache! Here's what you need to know about the five most common business travel expenses and their Vat consequences. Iit's estimated that in the US, business travel spending — including air tickets, hotels an... ››› more
  • [19 October 2016]
  • Why it's not an excuse to say 'I can't pay VAT this month'
  • Why it's not an excuse to say 'I can't pay VAT this month'
    So what happens if you can't pay your VAT this month? Funnily enough, we've just received a question from one of our readers, Mark. He didn't submit his VAT return and in turn couldn't pay his VAT to SARS. Let's have a look at what Peter Frank, Editor in Chief of the Practical VAT Loose Leaf, had to say...   ******************** How to get your VAT documentation right – first time, ev... ››› more
  • [07 October 2016]
  • Case law: SARS raises an assessment of R291 million against van der Merwe
  • Case law: SARS raises an assessment of R291 million against van der Merwe
    Gary van der Merwe (v d Merwe) was involved in a company that bought a helicopter - ZS-HTN from a non-vendor. The amount was huge! And v d Merwe's company claimed a notional input tax deduction on this purchase price. And we all know one of the requirements for claiming the notional input tax deductions is the purchaser must've paid for the second-hand goods. So v d Merwe issued shares to the ... ››› more
  • [29 September 2016]
  • Three reasons why you shouldn't attend just any cheap VAT course
  • Three reasons why you shouldn't attend just any cheap VAT course
    Are there VAT courses out there, cheaper than the VAT Masterclass 2016? The answer to your question is Yes! There most certainly are. And there are shorter courses too. But are they to your benefit? A few weeks ago, I attended a cheaper, morning VAT workshop. I have to admit I was curious to find out more information on how vendors were dealing with the SARS VAT audit. Here are three le... ››› more
  • [20 September 2016]
  • Are you making one of these six common VAT mistakes?
  • Are you making one of these six common VAT mistakes?
    Take this quick quiz and answer Yes/No. Are you: • Charging 14% VAT on your direct exports? Yes/No • Claiming 14% VAT on international air travel? Yes/No • Not charging VAT on services you supply in another country? Yes/No • Charging VAT at 0% on your financial services fees? Yes/No • Not charging VAT on commercial accommodation? Yes/No • Not declaring VAT on fringe benefit... ››› more
  • [13 September 2016]
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