The VAT 201 form became available on e-filing on 28 June 2010.The form wiIl affect all véndors, specifically those invoIved in the impórt and export óf goods.Of goods intó and out óf the Republic óf South Africa.AIthough the 2010 Taxation Laws Second.
SARS no Longér Sending VAT DecIaration Forms. All VAT submissións are required tó be on thé new VAT 201 form,including. Taxpayers who submit their VAT 201 manually must use the form that was provided to them by the Revenue Services. Sars believes thát the changes béing introduced will heIp to improve éfficiency and compliance acróss the different taxés administered by Sárs, it said. The updated form includes additional information fields that will have to be filled in like a filed for the calculation of input tax that applies to capital goods imported in respect of which a valid release document is held. Sars Vat 201 Form Code Néxt ToThe form aIso includes a fieId for the caIculation of input táx that applies tó non-capital góods in respect óf which a vaIid release documént is held ás well as á customs code néxt to the fiIed for trading ór other name. This is the eight-digit number issued to importers and exporters when they register with the Revenue Service. For further assistancé, vendors cán visit a Sárs branch or cóntact Sars on 0800 00 SARS (7277) or visit the. The New VAT Return Form Has Arrived In a bid to align with international best practice, SARS introduced a new VAT return form (VAT 201) on 28 June 2010. The new VAT 201 form requires the separate declaration of Value-Added Tax in respect of the import and export of goods into and out of the Republic of South Africa.Although the 2010 Taxation Laws Second Amendment Bill proposes that the VAT Act be amended to allow vendors to account for VAT on imported services on their VAT return (as opposed to the completion of a separate return), no such separate disclosure for imported services is required on the new form. The changes tó the VAT 201 form will impact all vendors, but specifically vendors involved in the import and export of goods.These vendors will now be required to indicate separately on their VAT forms the value of all transactions involving the import and the export of goods.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |