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Do you know which type of Vat vendor falls into category D?

by , 20 June 2014
When it reviews your Vat vendor application, SARS slots you into one of its six existing Vat categories.

These categories range from A to F. And the one you're in determines the tax periods you need to pay your Vat in.

For the purposes of this article, we'll focus on Category D.

Continue reading to find out the type of Vat vendors that fall into Category D so you can comply if you tick the boxes.

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You're a category D Vat vendor if you tick all these boxes

The Practical Vat Loose Leaf Service explains that category D only covers farmers, farming enterprises and associations-not-for-gain involved in farming activities. You must have a total turnover of less than R1.5 million for a period of 12 months.

If your business is based on agricultural, pastoral or other farming activities and its total turnover in a 12-month period doesn't exceed (and isn't likely to exceed) R1.5 million, you can apply to SARS in writing if you want it to classify you as a Category D Vat vendor.

As a category D Vat vendor, you need to submit Vat returns every six months on the last day of:

  • February; and
  • August.

The good news is you can apply to SARS in writing if you want to change the end of the six-month period to another month.

There you have it: If you tick all the above boxes, you're a category D Vat vendor. Make sure you meet the deadlines of your specific Vat category to avoid the hassle of resubmitting your Vat returns. And remember, not everyone pays Vat at the same time.

We also recommend you check out this article. It contains four important rules regarding tax periods.

PS: Do you know the 13 Vat review secrets SARS doesn't want you to know about?

Neither do most people.

Click here to find out what they are.

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