Who should register for VAT
Compulsory Registration
It is mandatory for a business to register for VAT if the total value of taxable supplies made in any consecutive twelve month period exceeded or is likely to exceed R1 million.
Voluntary Registration
A business may also choose to register voluntarily for VAT if the value of taxable supplies made or to be made exceed R50 000 in the past period of 12 months. A business that is conducting farming operations may elect to register for VAT even if it has not made R50 000.
Requirements for VAT Registration @ SARS.
- A Company / Other Entity.
- A Business Bank Account.
- Invoice(s) / Purchase Orders to prove you are trading.
- Proof of Address in South Africa.
To start the process, apply on this page below or call our number for a free consultation.