- Is this a valid tax 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?
*************Errors in your ... ››› more
- [23 March 2017]
- 1 Common input tax mistake and how to avoid it
- Many believe they've got input tax nailed. But the reality is that unnecessary mistakes continue to be made over and over again. And SARS doesn't take too kindly to these.
If you don't claim your input tax correctly, SARS will not only deny your input tax claim, but they'll also dish out harsh penalties and fines, with interest!
In this article, we'll look at 1 common, yet completely unne... ››› more
- [15 April 2016]