- Documentation is crucial for proving input tax and other deductions for VAT compliance
- Vendors can pay VAT electronically via the government eFilling portal or bank transfer
- All businesses and individuals engaged in taxable activities must register for VAT
- Penalties for non-compliance include fixed-amount and percentage-based fines and interest
- Vendors must report changes in representative, business address, bank details, or business name to SARS within 21 days
Source: vatabout.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
