FTA Points A Public Clarification Concerning VAT Registration Of Sole Establishments

The FTA indicated that any registrant must inform the FTA of any undeclared output tax by submitting a voluntary disclosure in accordance with Federal Legislation No. 7 of 2017 on Tax Procedures, for example the place the registrant disregarded any of his sole establishments or taxable provides made in his private capability for VAT purposes. This includes cases the place a person did not register for VAT on the premise that the obligatory VAT registration threshold was not exceeded on a stand-alone basis by that pure person or his sole institution(s).

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As soon as your organization exceeds R1 million in annual sales, you might be legally required to register for VAT at SARS. Businesses that fall into this category are referred to as distributors. Upon registration, you're permitted to add the extra charge to the overall value of your products and services. New vendors are required to complete and submit the VAT one zero one kind- Application for registration at SARS centers, no later than 21 days after surpassing the R1 million sales mark.

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