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.
WHO SHOULD ATTEND
Senior Administrative staff
Financial Controllers
Business Owners
HOW YOU WILL BENEFIT
This course is designed to empower participants with little or no business experience 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.
WHAT WILL BE COVERED
The course would cover the following core topics:
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