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Vat On Fringe Benefits

  • How to calculate the fringe benefits of VAT on company cars
  • One of the most common fringe benefits encountered on modern payrolls is the right to use a company car Where an employee has the right to use a company car, you must calculate the VAT on the fringe benefit as follows: Where the vehicle is a motor car (not a bus or kombi) and the input tax was specifically denied, the calculation is as follows:         0.3% x the determined va... ››› more
  • [15 February 2017]
  • I deducted the tax on the fringe benefit, but now SARS is asking 'where's the Vat?'
  • We recently received this question on the Accounting and Tax Club site. Lucia, a business owner gave her employee and his family a weekend away to the Kruger as an employee incentive. She knew an incentive of this kind was a fringe benefit. And she dutifully calculated the tax and deducted it from her employee's payroll. But when a SARS auditor came into her office for an unrelated Vat audit... ››› more
  • [08 July 2015]

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