If your company turnover is a million rand or more you have to register for VAT (Value Added Taxation). Companies can also register for VAT voluntarily if their turnover is over R50 000. Both individuals and legal entities can register for VAT in order to get VAT deductions on goods and services acquired by them from other companies or individuals who are also registered for VAT.
In order to register you for VAT we will need:
- The company registration documents
- The company income tax number
- Proof of address for the company (municipal account)
- Copies of the ID’s of the directors
- Proof of address for the directors (municipal account)
- A letter from the bank stating that the bank account belongs to the company
- Invoices valued at R50,000 or more
- Bank statements reflecting cash inflows of R50,000 or more, stamped by the bank
Please note, we can NOT guarantee that you will receive your VAT number if you do not meet the requirements.
If we have done our administrative task to complete all the documents and prepare your application, our responsibility is done.
SARS is very strict with VAT application and therefore our instructions need to be followed exactly.