• What to consider when registering for VAT.

    Compulsory registration All private companies have to register for VAT within 21 days after the turnover for 12 consecutive months has passed R1m. Voluntary registration SARS looks at certain scenarios where a private company can voluntarily register for VAT. Some of these scenarios include: SARS have started to apply these rules more strictly in order to avoid corruption. This means that in some cases, where SARS believes that the abovementioned scenarios do not apply, they will ask for supporting documents. The turnaround time for them to inspect the documents, and decide whether to issue a VAT number is then 21 business days. We can assist clients in registering their private…