2025 VAT Basics: Comprehensive Guide for Beginners

2025 VAT - Back to Basics Course

Learn VAT and Accounting Basics

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Last Updated: 2025-01-20 11:01:16 English Course Type: Self Learning

Definitions: Output tax and Input tax
Vendor Registration and Cancellation
Time and value of supply
Exempt Supplies
Accounting basis

*This course relates to South African Taxes only*

As a tax professional, learners are immediately confronted with large volumes of detailed tax theory, and struggle to understand how the theory fits into the end goal of preparing tax computations.

This course has been designed to develop a foundation of simple application upon which the complexities of taxation can be built at a later stage. The approach to this session is practical rather than theoretical.

Topics Discussed:

Definitions: Output tax and Input tax
Registration
- Category of vendor
- Refusal to register
- Cancellation of registration
- Onus on the vendor
- Liability of vendor
Time and value of supply
- General rule
- Rental agreement
- Instalment credit agreement
- Fixed property
- Open Market Value
Zero-Rating
- Export of goods
- Export of secondhand goods
- Supply of a going concern
- Fuel levy
- Services
Exempt Supplies
- Financial services
- Residential accommodation in a dwelling
- Education services
- Transport by road or rail
- Other
Input Tax
- Apportionment of input deductions – section 17 (1)
- Prohibited input deductions – section 17 (2)
- Double inputs
Calculation of VAT payable – section 16 (3)
Accounting basis
Deemed Supplies
- Fringe Benefits – section 18 (3)
- Person ceasing to be a vendor – section 8 (2)
- Disposal of going concern – section 8 (7)
- Insurance claims – section 8 (8)
- Non-Supplies – section 8 (14)
- Supply of goods or services used partly for making taxable supplies – section 8 (16)
Tax invoices, credit notes, debit notes
Irrecoverable debts – section 22
Late payments of VAT and interest on refunds
VAT and micro businesses
VAT and connected persons

All Included:

Video presented course
Downloadable course material
Certificate of training
Assessment (optional)

No prerequistes required

Employees
Managers
Financial Staff

Section 1 : VAT - Back to Basics Course 6 Lectures 00:42:38
Lecture 1 :
Part 1 Preview
Lecture 2 :
Part 2
Lecture 3 :
Part 3
Lecture 4 :
Part 4
Lecture 5 :
Part 5
Lecture 6 :
Downloadable Course Notes

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