• VAT

    How do I register for VAT

    What is VAT? VAT is an additional tax that you pay on certain products you buy. The current VAT rate is currently set at 15% SARS. VAT is only payable when purchasing from businesses who are registered for VAT by SARS. When should my business register? It is compulsory for all businesses to register at SARS for VAT, if the company’s sales exceeded R1m for 12 consecutive months. This includes all business types, private companies, close corporations and sole proprietors. It is the responsibility of the company to apply for a VAT number within 21 days. It is also possible to do a voluntary VAT registration. This can be done…