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Home News 2021 VAT Deregistration: Know about the VAT Exit Charge

VAT Deregistration: Know about the VAT Exit Charge

VAT Deregistration

The VAT Act requires persons carrying on an enterprise whose taxable supplies have exceeded or are expected to exceed R1million in a period of 12 months to register for VAT. A person may also voluntarily register if their supplies have exceeded R50 000 or are expected to exceed R50 000 in a 12-month period. A person may opt to voluntarily register for various reasons amongst them to secure the claiming of input VAT.

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