VAT Submission

A VAT submission is usually required every 2 months and contains a record of all sales with, and without, VAT as well as purchases on which you plan to claim VAT.

Once submitted, SARS will often ask for supporting documents and you will need to provide evidence of the sales and purchases calculations, as well as supporting tax invoices.

Don't forget, the new VAT rate of 15% is effective from 1 April 2018. 

Creative CFO can help with this process and will :

  • Review all the sales and purchases which you supply for the VAT period
    • This should include the cash movements on all bank accounts, as well as any accruals:
      • Sales invoices that have not been paid by the customer
      • Purchases invoices where you have not paid
  • Check the tax invoices for a sample, to ensure SARS compliance
  • Confirm the final figures with you for completion
  • Submit the VAT 201 e-filing return, or provide you with the figures to fill in
  • Submit the first round of supporting documents

If SARS would like to do further audits on your business documentation beyond what we supply this will incur an additional charge from our side to assist.

We will need an engagement letter signed prior to any tax work, which will be sent by the practice team after checkout.