VAT: An Introduction

Product Details:
Author(s):
Botes, M
Year Published:
2016
Edition
1st Edition
Type:
Print | Soft Cover
Language:
English
About this publication
VAT: An Introduction initiates students and practitioners into the South African value-added tax (VAT) system by guiding them through the basic principles of the Value-Added Tax Act 89 of 1991 (VAT Act). It covers the processes to be followed when dealing with VAT and sheds light on the most important case law and VAT legislation.
Complex concepts and the key objectives and principles of the VAT system are explained simply and clearly, without using unnecessary jargon. This makes VAT: An Introduction suitable for anyone who has to apply basic VAT principles in a business environment or provide general VAT advice and assistance.
The book is also an excellent study guide for students. It will help students understand the mechanics of the South African VAT system and the practical implications of VAT. Students and practitioners will find the revision questions at the end of each chapter useful to test their understanding and knowledge of the fundamentals of VAT.
Content
Background to VAT in South Africa
Basics of the South African VAT system
VAT Registration
Supplies
Standard-rated taxable supplies
Supplies deemed to be made or not to be made
Zero-rated taxable supplies
Exempt supplies
Importation of goods
Imported services
Input tax
Tax period and accounting basis
Accounting for output tax and input tax
Adjustments to output tax and input tax
Documentary requirements
VAT returns and payments
VAT administration by SARS
Dispute resolution
Glossary
Table of cases
Table of Acts
Interest / Benefit to
Tax students
Tax practitioners
Tax consultants
South African Revenue Service
Accountants