What Is VAT Number In South Africa?
A VAT number is a unique 10-digit number, the first digit of which is always the number 4, assigned by SARS that identifies a person/entity as being a registered VAT vendor in South Africa.
Who must register for VAT in South Africa?
It is compulsory for a person to register for VAT if the value of taxable supplies made or to be made is in excess of R1 million in any consecutive 12-month period.
What documents are required for VAT registration in South Africa?
A (1) trading CIPC-registered company/organization with (2) a bank account, (3) invoices or purchase orders to showcase you are trading (4) proof of a South African address (5) SARS Registered Representative updated at SARS (we can assist).
How much is VAT?
VAT is only charged on taxable supplies made. Taxable supplies are supplies for which VAT is charged at either the standard rate (currently 15%) or zero rate (0%).
There is a limited range of goods and services that are subject to VAT at the zero rate or exempt from VAT.
How do I get a VAT number in South Africa?
Main Requirements: (1) Company Registration Documents (2) Business Bank Account (3) Proof you are Trading (4) South African business Address (5) SARS Registered Representative updated at SARS (we can assist)
Do foreigners pay VAT in South Africa?
currently set at 14%, Value Added Tax (VAT) is included in the price of most goods and services. Foreign visitors are not exempt from paying VAT on purchased goods. T
hey may, however, claim back VAT paid on items taken out of the country when the total valued exceeds R250.