*
*
*

Welcome

PKF Pretoria

right people right size right solutions
News

ATTENTION VAT VENDORS: THE VAT RATE INCREASE AFFECTS YOUR APRIL VAT RETURNS

ATTENTION VAT VENDORS: THE VAT RATE INCREASE AFFECTS YOUR APRIL VAT RETURNS

25 May 2018

As you are aware the increase in the VAT rate from 14% to 15% affects your April VAT returns. 

Please note that for March/April VAT 201 returns, for Output tax, the following applies:

Output tax -

  • for all standard rated supplies where VAT at 14% has been levied, please use Field 12 – “Other and Imported Services” on the VAT201, to declare the output tax.
  • for all standard rated supplies where VAT at 15% has been levied, please use the standard rated fields on the VAT201 that you would normally use to declare the output tax.

Input tax - 

  • for all capital and other goods and/or services supplied to you and charged with VAT at 14%, please use Field 18 – “Other” on the VAT201, to deduct VAT.
  • for all supplies where VAT was imposed at 15%, please use the standard fields on the VAT201 that you would normally use to claim the input tax.
  • For imported goods, supplied at 14% or 15% please use Field 14A or 15A depending on whether the goods are capital or not.

Wan to see an illustration of a VAT201? Click here


Get In Touch

For more information on how we can help you, get in touch

* *
*

Services

About us

Careers

Copyright 2018 PKF Pretoria | PKF Pretoria is a member firm of the PKF South Africa Inc. and PKF International Limited family
of legally independent firms. Neither PKF Pretoria nor PKF South Africa Inc. accept any responsibility or liability
for the actions or inactions on the part of any other individual member or correspondent firm or firms.