![]() ![]() ![]() ![]() This code is compulsory if you complete all these new fields. Field 2A: zero-rated supplies of all goods exported from SA.įield 14A: calculation of input tax applying to capital goods imported, and for which a valid release is held.įield 15A: calculation of input tax applying to non-capital goods imported, and for which a valid release is held.Ĭustoms Code: Your exporter imported code, which will allow SARS to link the information youve declared for customs to the info youve declared for Vat. Vat return rule 2: If youre not using the NEW Vat201, your return will be rejected The Vat 201 form has undergone a surgical makeover. Step 5: Multiply the total by 14 Step 6: Complete the sums for your output tax Step 7: Transcribe the amount of Vat paid for capital goods, in column 14 Step 8: Transcribe the total amount of Vat paid for all other goods supplied to you, in column 15 Step 9: Transcribe the total amount of bad debts written off Step 10: Determine the sum of input tax, based on these figures Step 11: Deduct the total input from the total output Step 12: Calculate any penalties and interest you owe SARS Step 13: Calculate the total amount you owe SARS.Īnd make sure youre using the right Vat period, the right Vat numbers and the right Vat calculations. Step 1: Calculate your output tax, based on total sales at the standard rate Step 2: Calculate your output tax on capital goods sold Step 3: Transcribe the total zero-rated and exempt sales on the return in columns 2 and 3 Step 4: Transcribe the total amount received for accommodation exceeding 45 days, in column 5. ![]()
1 Comment
12/28/2022 07:17:23 am
Amazing write-up! You can set up ANNA Business Tools in a jiffy, and then you’ll be ready to file VAT Returns, do your bookkeeping, send invoices and store your documents with our MTD-friendly, HMRC-approved set of tools.
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