Overview

****Please note that this course is based on South African Tax****The VAT Fundamentals & Foundations self-study course is designed for individuals, staff and financial management that are required to calculate and submit VAT returns for a business, and have no or very little understanding/knowledge of how VAT really works.This course provides much needed insight on the foundations on which the VAT system is based and is very beneficial to any person wanting to enter or exit the VAT system.TOPICS DISCUSSED:Registrations - Supporting Documents and Forms to fill inThe importance of knowing the difference between voluntary and compulsory registrationsSale of a Going Concern and the subsequent VAT registration of the purchaserRegistering separate activities, divisions and branchesHow to register for VAT on E-filingManaging your user profile and access rights on E-filingWhat constitutes a supply?The enterprise test - what activities are and what activities are notStandard Rate, Zero Rate and Exempt - knowing the differenceWhat to do when a VAT number is pendingNEW VAT Vendor - Back Dating vs Back ClaimingSupplies made to the person prior to registration - Section 18 (4) (b)Deregistration and Exit VATIncome tax consequence of Exit VATVAT CategoriesThe 10-Day RuleAccrual Basis / Invoice Basis compared to Payment BasisExceptions to the general time and value of supplyInvoices - Complying with the SARS check listHow to fill in the VAT201 formAll Included:Video presented courseDownloadable course materialCertificate of trainingSAIT Accredited - 4 verifiable CPD points------------------------------------About the presenter:Ruzel van JaarsveldShe has over 23 years financial and bookkeeping experience, working with many industries and corporate environments, with extensive knowledge and practical application of trial balance, payroll, VAT, PAYE returns, Inventory control, Management Accounts, E-filing and Procedures of Importing and Exporting.She is a seasoned appointed facilitator with Biz Facility, and for numerous years has been presenting various national practical financial workshops to business owners and corporate financial staff.

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