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VAT – Back to Basics
Free Download VAT – Back to Basics
Published 9/2024
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz, 2 Ch
Language: English | Duration: 2h 3m | Size: 1.25 GB
Learn VAT and Accounting Basics
What you'll learn
Definitions: Output tax and Input tax
Vendor Registration and Cancellation
Time and value of supply
Exempt Supplies
Accounting basis
Requirements
No prerequistes required
Description
*This course relates to South African Taxes only*As a tax professional, learners are immediately confronted with large volumes of detailed tax theory, and struggle to understand how the theory fits into the end goal of preparing tax computations.This course has been designed to develop a foundation of simple application upon which the complexities of taxation can be built at a later stage. The approach to this session is practical rather than theoretical.Topics Discussed:Definitions: Output tax and Input taxRegistrationCategory of vendorRefusal to registerCancellation of registrationOnus on the vendorLiability of vendorTime and value of supplyGeneral ruleRental agreementInstalment credit agreementFixed propertyOpen Market ValueZero-RatingExport of goodsExport of secondhand goodsSupply of a going concernFuel levyServicesExempt SuppliesFinancial servicesResidential accommodation in a dwellingEducation servicesTransport by road or railOtherInput TaxApportionment of input deductions – section 17 (1)Prohibited input deductions – section 17 (2)Double inputsCalculation of VAT payable – section 16 (3)Accounting basisDeemed SuppliesFringe Benefits – section 18 (3)Person ceasing to be a vendor – section 8 (2)Disposal of going concern – section 8 (7)Insurance claims – section 8 (8)Non-Supplies – section 8 (14)Supply of goods or services used partly for making taxable supplies – section 8 (16)Tax invoices, credit notes, debit notesIrrecoverable debts – section 22Late payments of VAT and interest on refundsVAT and micro businessesVAT and connected personsAll Included:Video presented courseDownloadable course materialCertificate of trainingAssessment (optional)SAIT Accredited - 4 Verifiable CPD Points
Who this course is for
Employees, Managers, Financial Staff and Individuals
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