SARS has introduced a more targeted and detailed approach to VAT verifications, moving beyond standardised requests to more comprehensive, VAT201-specific queries. These changes require businesses to maintain robust documentation and readiness, especially around exports, imports, and exempt supplies. Learn more about what’s changed and how to prepare.

Paying interest to an offshore group company? Proposed changes to section 23M may limit your tax deductions, including forex losses. Don’t get caught off guard—early planning is key.

VAT Change Checklist—a practical guide to help you assess key areas of focus for compliance and operational readiness.

The 2025 Budget avoids rate hikes, favouring long-term stability through global tax reforms and detailed technical enhancements.

It is proposed that the VAT rate will increase from 15% to 15.5% effective 1 May 2025. A further increase in the VAT rate from 15.5% to 16%

Preparing for a Potential VAT Rate Increase in 2025: Key Considerations for Vendors The uncertainty surrounding a potential VAT rate...

On 21 June 2024, the Constitutional Court ruled in favour of Coronation confirming that its foreign subsidiary indeed conducted its...

In a significant move towards strengthening VAT compliance, the South African Revenue Service (SARS) announced in December 2023 its...

African Tax jurisdictions are often overlooked by suppliers of electronic and digital services which may ultimately result in substantial...

Taxpayers are now able to request SARS to reduce an existing assessment in a less formal method than was previously available....

The global digital economy has experienced remarkable growth, transforming the way businesses operate and the way consumers procure...

Background on legislative amendments The Value-Added Tax Act, 1991 (“the Act"), prior to 2014, provided for the inbound supply of...

SARS initially launched the limited Voluntary Disclosure Programme (“VDP”) from November 2010 to October 2011, with the objective to...

Many taxpayers continue to be frustrated with SARS due to delayed refunds. This seems to be a common occurrence and can be devastating to...

For years of assessment commencing on or after 1 April 2022, the South African corporate income tax rate was reduced to 27%. However, to...

VAT IT SA would like to introduce Nadia van Aswegen as the newly appointed Corporate Tax Director. Nadia is a qualified Chartered...

Using Intermediaries For The Supply of Electronic Services in South Africa

On 23 February 2022, Finance Minister Enoch Godongwana presented the annual budget proposal for the 2022 financial year to the National...

The Managing Director of VAT IT SA takes us through VAT fraud in South Africa and the impact on the South African Revenue Service (SARS),...

The market for suppliers of electronic services is expanding globally and various tax jurisdictions are implementing VAT legislation to...