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VAT - Coggle Diagram

- - - - First established on 30 Sep 1991
      - Initially @ 10%
  - - - Charged on sold items
    - - Charged on items bought
  - - - @ standard rate
        
        @ zero rate
        
        LESS Input Tax
        
        VAT Payable to SARS
        
        R XXX XXX
        
        (XXX XXX)
        
        0
        
        XXX XXX
  - - - EXCLUDES VAT
    - - INCLUDES VAT
- - - - Monthly Tax Period
        
        Applies to vendors whose total taxable supplies exceed R30 Million
        
        In a 12-month period
    - - Six-Month Tax Period
        
        Usually Micro and Farming businesses are the ones that apply to be in this category
    - - 12-Month Tax Period
        
        Applies to vendors whose business is solely:
        
        The letting of property or renting of goods to connected companies
        
        The administration or management of connect companies
    - - Every 2 months with Category A ending on the last day of January and Category B ending on the last day of February
        
        Must submit a single return for those two months by the last business day of the following month on e-filling
        
        Category A
        
        March
        
        May
        
        January
        
        Category B
        
        April
        
        June
        
        February
- - - - Deemed Supplies
      - Non-Supplies
      - Supplies
        
        Time of Supply
        
        Value of Supply