If you sell goods, this guide does not apply.Įffective since 1 st of June 2014 due to the Value-Added Tax Act, 1991 (No. The changes to the VAT 201 form will impact all vendors, but specifically vendors involved in the import and export of goods.These vendors will now be required to indicate separately on their VAT forms the value of all transactions involving the import and the export of goods.This guide covers only the taxation of digital services. The new VAT 201 form requires the separate declaration of Value-Added Tax in respect of the import and export of goods into and out of the Republic of South Africa.Although the 2010 Taxation Laws Second Amendment Bill proposes that the VAT Act be amended to allow vendors to account for VAT on imported services on their VAT return (as opposed to the completion of a separate return), no such separate disclosure for imported services is required on the new form. The New VAT Return Form Has Arrived In a bid to align with international best practice, SARS introduced a new VAT return form (VAT 201) on 28 June 2010. This is the eight-digit number issued to importers and exporters when they register with the Revenue Service.įor further assistance, vendors can visit a Sars branch or contact Sars on 0800 00 SARS (7277) or visit the. The form also includes a field for the calculation of input tax that applies to non-capital goods in respect of which a valid release document is held as well as a customs code next to the filed for “trading or other name”. The updated form includes additional information fields that will have to be filled in like a filed for the calculation of input tax that applies to capital goods imported in respect of which a valid release document is held. “Sars believes that the changes being introduced will help to improve efficiency and compliance across the different taxes administered by Sars,” it said. Taxpayers who submit their VAT 201 manually must use the form that was provided to them by the Revenue Services. The light swami vivekananda hindi movie watch online.
These vendors will now be required to indicate separately on their declarations all transactions involving the import and export of goods. All VAT submissions are required to be on the new VAT 201 form,including. SARS no Longer Sending VAT Declaration Forms. Of goods into and out of the Republic of South Africa.Although the 2010 Taxation Laws Second.
The form will affect all vendors, specifically those involved in the import and export of goods. The VAT 201 form became available on e-filing on 28 June 2010.
30 June 2010 The South African Revenue Service (Sars) has announced a new form for the remittance of Value Added Tax (VAT).
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