VAT Masterclass

by KZN Business Training Centre Claim Listing

Value Added Tax – An introductory half day course to understand, practically implement and administer VAT processes in compliance with SARS regulations within a small business environment.

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Course Details

Value Added Tax – An introductory half day course to understand, practically implement and administer VAT processes in compliance with SARS regulations within a small business environment.

This course is designed to empower participants with little or no business experienced with applied working and practical knowledge of the fundamentals of value-added tax (VAT).

Delegates will gain the understanding and skills to assist them in implementing VAT correctly within a small business environment. The course uses real-life scenarios and practical examples, including the completion of the VAT 201 return.

 

Topic Covered:

  • Introduction
  • General background on VAT
  • The VAT Act
  • Accounting basis and the calculation of VAT
  • Output VAT
    • Zero-rated
    • Exempt supplies
    • Deemed supplies
  • Input VAT
    • General input deductions
    • Specific inputs
    • Agent principal transaction and apportionment
  • Registration and tax periods
  • Interacting with SARS
  • Practical scenarios and examples of VAT calculations
    • Tax invoices and other documentation
    • The 201 VAT return
    • VAT reconciliations
  • Durban Branch

    23 Jan Hofmeyr Rd, Berea West, Westville, Durban

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