“Who loves paying VAT?”
Sadly, more often than not, no one puts their hand up. Everyone pays VAT in one form or another. It affects everybody, no matter who you are, read more about this here.
That said, here … Read the rest
A VAT audit is not something that a company wants but is a reality. There is nothing to be scared about really, provided that you have everything accurate, complete and ready to be handed in. … Read the rest
The COVID-19 pandemic is here to stay and nobody in any country has not been affected in some way. BC Accounting Services is not here to offer advice on the virus itself but financial implications on companies and … Read the rest
South Africa implemented Value Added Tax (VAT) on the 30th of September 1991, replacing general sales tax as the indirect taxation system (1). VAT has since been the second most important source of government revenue in South Africa (2).
The … Read the rest
Value Added Tax (VAT) is an indirect tax on the consumption of goods and services in the economy. Revenue is raised by the government by requiring certain businesses to register and to charge VAT on the taxable … Read the rest
Whatever your entity is registered as there are various tax requirements you have to meet and one of these could be value-added tax (VAT). Here is a broad explanation of what VAT is and how to meet your tax obligations … Read the rest
It is good business practice to have a policy in place that stipulates how your company deals with bad debts.
In case you aren’t aware, a bad debt is when an invoice is not going to be paid by a … Read the rest
A vendor’s VAT registration may be cancelled if certain requirements are met.
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