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Can a business in the turnover tax system register for VAT.

Posted 10 June 2016 under Tax Q&A


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Dan says:
9 June 2016 at 14:41

A business is registered for Turnover Tax. To procure more work, he wants to register for VAT. Is he allowed to do so. Is there an official document to confirm this

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TaxTim TaxTim says:
10 June 2016 at 10:21

How do you think that VAT registration will enable you to procure more business? Remember you will need to add VAT on for your clients which will make your products/services more expensive for them.
.

Dan says:
10 June 2016 at 13:16

I have explained to the business owner that a VAT registration does not guarantee more business. But he says that even his existing clients are asking him to get registered for VAT.

But if he is in the Turnover tax system, can he still register for VAT.

TaxTim TaxTim says:
10 June 2016 at 17:08

He can still register for VAT yes and then have to charge the 14% to customers. You can check on the SARS website by searching Turnover Tax.

Dan says:
10 June 2016 at 17:22

Thank you so much.

TaxTim TaxTim says:
10 June 2016 at 17:22

Only a pleasure!


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