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Valid Tax Invoice

12 Must-haves for a legal tax invoice
Tired of SARS always delaying your input tax claims? The reason for this could be that your tax invoice is not valid. Find out the 12 things that you tax invoice must have...... ››› more
[27 September 2013]

Secondhand goods: How to deal with supplies for less than R1 000 and supplies for more than R1 000
Although you don't charge any Vat on secondhand sales, there are some important rules to follow to comply with the Vat Act. Read on to find out how to deal with supplies for less than and more than R1 000...... ››› more
[12 September 2013]

Avoid these seven mistakes on your input tax claim
Want your input tax claims process to go smoothly? Then avoid these seven mistakes...... ››› more
[05 September 2013]

How to guarantee an input tax claim on local flights
Very few people know which portions of their air travel costs carry Vat charges. Those who do, know they can claim as input tax on some of the costs. Don't forfeit your input tax claims because of ignorance! Read on to discover an effective way to guarantee your input tax claim of local flights and can get extra cash back in your business's pocket.... ››› more
[16 August 2013]

Five input tax claims you're NOT allowed to make
Input tax is the Vat you pay your suppliers in the course of your business as well as Vat paid on goods you import. SARS allows you to claim the input tax for your relevant tax period when you complete your Vat return. While this is the case, there are input tax claims you aren't allowed to make. Read on to find out what they are so you can comply with SARS and avoid penalties.... ››› more
[06 August 2013]

Four Vat claims municipalities can make to save thousands on their tax bill
If you work for a municipality and are in charge of Vat, make sure you save your municipality some money by claiming input tax on these four expenses...... ››› more
[05 August 2013]

Still missing out on an opportunity to claim input tax? Make this a thing of the past by using these five input tax rules
Are you still struggling to grasp when you can claim input tax? If so, read on to discover the five general rules regarding input tax so you can claim all the input tax SARS owes your business.... ››› more
[29 July 2013]

Seven instances where you'll have to issue a valid tax invoice
The most important link in the Vat chain is your tax invoice. Get it wrong and you won't be able to deduct input tax on your purchases. What's more, if you issue a defective tax invoice, or fail to issue one within 21 days of making a supply, you could face two years in jail, or face a fine for R80 000. Read on to discover the seven instances where you must issue a valid tax invoice so you can comply.... ››› more
[19 July 2013]

Are you SURE you're issuing and receiving valid tax invoices?
All tax invoices, both received and issued have to comply with the requirements of the Vat Act if they're for a value greater than R5 000. Read on to discover the eight requirements of a valid tax invoice so you can avoid a two year jail term or a fine of R80 000.... ››› more
[18 July 2013]

Are these mistakes standing in the way of claiming input tax for your business?
As a Vat vendor, it's your duty to charge output tax and claim input tax as long as you can prove your claims and back them up with all the required documentation. But there are certain common input tax mistakes that vendors make again and again. Here are the obvious and most widespread errors that'll stand in the way of your claiming every input tax credit possible. And be warned: The Vat audit team will specifically look for these mistakes when they audit you!... ››› more
[03 July 2013]

Four instances you can maximise your Vat claims and claim an input tax adjustment
If you're looking for a perfectly legal way to maximise your Vat claims and increase your refunds from SARS as much as you can, pay attention: You can do this by claiming an input tax adjustment. But before you do, make sure you know the four instances where you can claim an input tax adjustment.... ››› more
[03 July 2013]

Buying or selling fixed property? Follow these five special Vat rules and put cash back into your business
If you're buying or selling a fixed property, there are five Vat rules you need to apply correctly. Read on to find out what they are so you can apply them and put more cash back into your business.... ››› more
[18 June 2013]

Is your company issuing and receiving valid tax invoices?
'The most important link in the Vat chain is the tax invoice. Get it wrong and you won't be able to deduct input tax on your purchases,' warns the Practical Vat Loose Leaf Service. Don't let your company fall into the 80% of the assessments raised by SARS that relate to defective tax invoices. Read on to find out the eight requirement for valid tax invoices are so you can make sure you issue and receive correct, watertight tax invoices every time.... ››› more
[07 June 2013]

Follow these five rules to claim your company's input tax correctly
If you're still unsure about which transactions you can claim input tax on, here are general rules and tips that'll help. Use them, and your company can use to boost its cash flow - without having to do anything complicated...... ››› more
[03 June 2013]

Learn from Coca-Cola's mistake in the Philippines to ensure SARS pays out your input tax claims!
Coca-Cola's petition for a tax refund in the Philippines has just been denied by the Court of Tax Appeals. It's all because of incorrect record-keeping. Locally, your input tax claims will also be turned down by SARS if you don't have valid tax invoices to back up the claims. Here're two steps to follow to ensure SARS pays out your input tax claims...... ››› more
[28 May 2013]

Use these guidelines to claim input tax on local flights
Not many people know which portions of their air travel costs carry Vat charges which can be claimed as input tax. Do you? You don't have to forfeit your input tax claims anymore. Read on to find out what you need to do to guarantee you get cash back in your pocket on all your local flights.... ››› more
[07 May 2013]

You're missing out if you don't claim your local business travel expenses back from SARS!
Travel lots for business? You're not alone. While you can't claim your international travel expenses back from SARS as Vat is charged at the zero-rate for these, you CAN claim back your local business travel expenses. But you'll need to make sure you have the right information listed on your travel tax invoice to do so...... ››› more
[06 May 2013]

Slash your Vat bill with this input tax tip...
As a Vat vendor, it's your right to claim input tax - as long as you can prove your claims and back them up with all the required documentation. But if you make just one mistake with your input tax claim or try to claim input tax on items that don't qualify for input tax, SARS will deny it. It'll slap you with penalties and interest!... ››› more
[07 March 2013]

Avoid this simple tax invoice mistake - it counts as Vat fraud!
Three men have been jailed in Britain for setting up nine fictional firms so they could get away with £300,000 in a Vat scam. But Vat fraud isn't always a cloak and dagger, pre-planned event. It's surprisingly easy to commit Vat fraud - here's one way to avoid it.... ››› more
[11 February 2013]

Do you really need a tax invoice?
As a business owner, you can't take tax invoices for granted: Forget to issue them or omit them from your monthly Accounting reconciliations and you'll land your company in big trouble with SARS. But there are a few instances when having a tax invoice isn't necessary. Here's a quick look at the ins and outs of tax invoice you need to know about...... ››› more
[18 January 2013]



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