Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.

Can a company register for VAT at inception or must it commence trade first?

Posted 10 September 2013 under Tax Q&A


Let TaxTim
help you
submit your
Tax returns!



TaxTim will help you:
  • Do Your Tax Return Easily
  • Avoid penalties
  • Maximise your refund
Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
I would like to know at what point should a business register for VAT. Can it register immediately or must the company first make R50 000 and produce bank statement to prove this?

This entry was posted in Tax Q&A and tagged , . Bookmark the permalink.

TaxTim TaxTim says:
10 September 2013 at 20:35

You can register for VAT if you can show R50 000 worth of invoices or if you expect to have turnover greater than R1 000 000 in the coming 12 months. So a bank statement and related invoices will be needed.

Cormac says:
10 September 2013 at 20:49

Thank you, your site is informative and I must say that it explains everything in a manner that even 'non financial' people can understand. Thank you again!!

TaxTim TaxTim says:
10 September 2013 at 20:52

Only a pleasure! Glad we could assist, that is exactly what we are trying to achieve!


Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Let TaxTim
help you
submit your
Tax returns!



TaxTim will help you:
  • Do Your Tax Return Easily
  • Avoid penalties
  • Maximise your refund
Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started