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Do I need to register for provisional tax and VAT as a sole proprietor selling used vehicles?

Posted 8 April 2014 under Tax Questions



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I am the sole proprietor of my business. I buy up used motorcycles and scooters, which are mostly vintage and then sell them on to collectors. Some of my sales are to overseas buyers requiring me to export these vehicles.
This is my only income.
Am I required to register for provisional tax?
Am I required to register for VAT?

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TaxTimTaxTim says:
9 April 2014 at 14:50

You are required to register and pay Provisional Tax And if your turnover is more than R1m for they year then you will have to register as a VAT Vendor.


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