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Is it necessary to register company for VAT

Posted 23 June 2015 under Tax Q&A


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Retha says:
20 May 2015 at 14:59

I am in the prcess of starting my own company. The planned income per month will be 65 000 to 70 000 and payments around 35 000. A small company. Is it necessary to register for VAT or will I still be under the threshold?

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TaxTim TaxTim says:
21 May 2015 at 11:50

No you will not need to register for VAT as the threshold is R1m Turnover in a 12 month period.

Retha says:
21 May 2015 at 12:18

Very helpful, thanks a million!

TaxTim TaxTim says:
21 May 2015 at 12:20

Only a pleasure and very good pun;)


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