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Courses

Value added tax (VAT) Training

Value added tax (VAT) Training

Technical Training 
Value added tax (VAT) including completion of relevant VAT returns 
R 1,000.00 (excl) 
1/2 Day 
Do you have 10 or more delegates? 
Click here to book this training as an In-House course 
Attendance at this seminar will secure 4.5 hour/s verifiable CPD points incl. other professional bodies (SAICA, SAIPA, SAIBA, ACCA) 



OVERVIEW

This course is intended for staff who are likely to become involved in completing VAT returns. It is also relevant for those who would like a reminder of the basic principles. The course assumes no prior knowledge.

COURSE OBJECTIVES


The objective of the course is to teach delegates the principles of value added tax in a practical way and to reduce the risk of VAT errors made by staff members. 


COURSE CONTENT:

The VAT system 

  • Background on VAT 
  • The VAT Act 
  • VAT registration 
  • Definition of a vendor 
  • The difference between the payment basis and the invoice basis 
  • Taxable supplies 
  • Zero rated supplies 
  • Exempt supplies 
  • Tax periods 
  • Deemed supplies 

Calculating the VAT liability 

  • Determine input VAT 
  • Determine output VAT 
  • Change in use adjustments 
  • Completing the VAT return 
  • Payment of VAT 
  • Penalties for late payments 
  • Refunds. 

Specific VAT transactions 

  • Bad and irrecoverable debts 
  • Business travel 
  • Entertainment 
  • Fringe benefits 
  • Game viewing and passenger transport 
  • Club subscriptions 
  • Insurance 
  • Prizes 
  • Second hand goods 
  • Vehicles: passenger and commercial Trade discounts 
  • Property transactions. 

Documentation 

  • Requirements for a valid tax invoice 
  • Credit notes 
  • Format of records 
  • Retention of records 
  • Copies and photocopies of tax invoices 
  • Tax invoices by e-mail. 

2014 Amendments 
VAT reconciliations. 

Please note: All the above principles will be explained by way of practical examples.

WHO SHOULD ATTEND? 


Trainee accountants (SAICA and SAIPA), bookkeepers and junior accountants. 

SPECIAL ARRANGEMENTS:  

Delegates must bring pens and calculators to the course. All other material and stationery will be provided. 

PRESENTER/S: 


Managing Director 

Lynette Badenhorst began her studies in 1985 with a BCompt and Honours BCompt from the University of the Free State. She qualified as a Chartered Accountant in 1993 and started her own audit practice. In 1997 Lynette joined a training firm called PROS Training and was the Training Manager until it merged with BETA Training in 2003. She was a Director and shareholder of ProBeta Accountancy Development (Pty) Ltd since 2003. 

Lynette obtained:  
• 2005: An advanced Certificate in Tax
•2006: Masters Degree in Domestic Tax
•2007: Certificate in Forensic and Investigative Auditing 
•2009: Masters Degree in International Tax. 

Lynette is currently the Managing Director and a shareholder of ProBeta Training (Pty) Ltd. 

She is also the author of the annual tax booklets sold by GBSE & ProBeta. 

CONTACT: Nonhlanhla Ndzimande
TELEPHONE: (011) 242 8000 

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Value added tax (VAT) Training | Programmes