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Updated in [July 25th, 2023]

This self-study course, VAT Fundamentals & Foundations, is designed for individuals, staff, and financial management who are required to calculate and submit VAT returns for a business, but have little to no understanding of how VAT works. It provides insight into the foundations of the VAT system and is beneficial for those entering or exiting the VAT system. Topics discussed include registrations, sale of a going concern, registering separate activities, divisions and branches, managing user profiles and access rights on E-filing, supplies, standard rate, zero rate, and exempt, VAT vendor back dating and back claiming, deregistration and exit VAT, income tax consequences of exit VAT, VAT categories, the 10-day rule, accrual basis and invoice basis, invoices, and how to fill in the VAT201 form. The course is presented by Ruzel van Jaarsveld, who has over 23 years of financial and bookkeeping experience, and is SAIT accredited with 4 verifiable CPD points.

Course Syllabus

Introduction

VAT Fundamentals & Foundations Course