Did you hear SARS denied De Beers Consolidated Mines R7 million input tax claim?
When De Beers employed local financial service providers to work out a fair price of their shares, they claimed the R7 million input tax.
But SARS denied this. And after 12 years of legal battles, the Supreme Court of Appeal agreed!
Here's how to make sure you know what you can and can't claim input tax on.
Think VAT doesn't apply to your payroll? You're wrong! Avoid this common error and keep SARS away from your door at audit time
A common mistake picked up by SARS auditors at on-site audits is that employers fail to pay over Vat on company car fringe benefits.
This is one of the first areas the audit team will lock onto when they audit you, so here's how to make sure you're paying your output tax on company cars…