SARS introduced several changes to the value-added tax (VAT) vendor declaration form on 11 April 2011 in its bid to modernise.In a letter to VAT vendors, it said that vendors need to note that from 11 April 2011, all VAT submissions are required to be on the new VAT 201 form,including any submissions for periods prior to March 2011.
![]() ![]() When submitting a return with your payment, the new cut off time for cheque payments is at 15h00 on the due date, the due date would be the 25th of the month; alternatively, if the 25th is a weekend or public holiday, then the last working day before that. Also, from 1 May 2011, the maximum amount of a cheque that SARS will accept for VAT payments is up to R100 000.If your turnover is more than R30 million per annum, or more than R2.5 million a month, you are obliged to e-file and pay electronically. Wolfsohn said that SAICA supports the move to e-filing, as it is faster, more efficient, returns dont get lost, and there is the added advantage that if you file one-filing, you get additional days to submit your returns and pay VAT i.e. Vat 201 Form Sars How To Complete TheIf you are still clueless, SARS e-filing website has a step by step guide explaining how to complete the new VAT returns manually or by e-filing.The message that SAICA is trying to get out to vendors is the need to request your VAT returns early, and dont forget to do so to avoid penalties and interest for late submission. ![]() It is a criminal offense to not register with both a recognized controlling body. It is a criminal offense to not register with both a recognized controlling body and SARS.
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