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VAT registration?

Posted 19 June 2013 under Tax Q&A


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I have just started a small business. What must my turnover be to register for VAT. Currently I am paying VAT on my purchases but not charging VAT on my sales.

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TaxTim TaxTim says:
19 June 2013 at 18:13

You can voluntarily register for VAT if you have invoices over R50 000 or you would need to register for VAT if your turnover is or is expected to exceed R1 000 000.

Maria says:
19 June 2013 at 18:35

Would this be invoices/turnover per month or per annum?

TaxTim TaxTim says:
19 June 2013 at 21:41

The turnover figure is for the year and the invoices threshold of R50 000 is as a total. The differences are that the R50 000 is voluntary and the R1 000 000 is mandatory.


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Blog Categories


Small
Business
Tax Returns
Made Easy


TaxTim will help you:

 Do Your ITR14 Tax Return without a Tax Expert
 Claim for all the Deductions your Business Qualifies for
 Turn your Accounting Records into a Tax Return

TaxTim asks you simple questions about your business, then processes your answers and completes your ITR14 business tax return instantly.

Get started