The Ins and Outs of VAT - A Guide for Accounting and Bookkeeping Professionals
CPD Hours: 2
Price: R450.00
The Ins and Outs of VAT - A Guide for Accounting and Bookkeeping Professionals
Presenters : Nestene Botha CA(SA)
Overview
The processing VAT is a large part of the bookkeeping function in VAT registered businesses. It is therefore crucial for every practising bookkeeper or accountant to have thorough knowledge of VAT legislation and SARS requirements that govern this very important part of their work.
In addition, bookkeeping professionals must understand how to communicate with their clients regarding accounting for VAT, VAT payments, and administration requirements that ultimately affect their cash flow planning. This is especially important for SMEs, most of whom struggle with cash flow.
Learning objectives
By attending this webinar you will develop the following competencies:
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Have a background understanding of the requirements of The Tax Administration Act.
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Have a practical understanding of VAT calculations and items to specifically look out for.
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Know how to classify different types of supplies.
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Know SARS timelines as well as their penalties and interest charges.
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Understand how to communicate with clients regarding VAT payments as part of their cash flow.
Content
The webinar will cover the following topics:
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Background to the VAT Act No. 89 of 1991.
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Background to the Tax Administration Act, 2011 (No. 28 of 2011)
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VAT calculation - Overview and recap.
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Classification of supplies.
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SARS penalties and interest charges.
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Cashflow and communication.
