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VAT Introduction and Basic Concepts Course
Rating: 3.9 out of 5(4 ratings)
20 students

VAT Introduction and Basic Concepts Course

Introduction to VAT
Last updated 11/2024
English

What you'll learn

  • Characteristics of taxable supplies – goods and services
  • Categories of supplies
  • VAT rates and exemptions
  • VAT Categories
  • Important things to know when registering
  • Administration of VAT

Course content

2 sections8 lectures2h 28m total length
  • Introduction15:29

Requirements

  • No Prerequesites
  • Basic understanding of VAT

Description

VAT training is a very important part of professional business development and can save a company huge amounts of money, if executed correctly. VAT management can be extremely complicated if the necessary knowledge is not available in an organization. VAT management is also beneficial for businesses so that violations and penalties are avoided as much as possible.

Whether you are a seasoned VAT professional or a learner wishing to skill yourself up, this session is for anyone wanting to learn or at the very least see if existing VAT practices in an organization are correct.


Topics Discussed:

  • Characteristics of taxable supplies – goods and services

  • VAT rates and exemptions

  • Deduction and recovery of VAT

  • What I can and cannot deduct

  • Accrual VS Payment Basis

  • Administration of VAT

  • Input and Output VAT

  • Categories of supplies

    • Taxable Supplies

    • Reduce rated Supplies

    • Zero-Rated Supplies

    • Exempt Supplies

    • Zero Rated VS Exempt

  • VAT Categories

  • Important things to know when registering

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About the Presenter:

Ruzel van Jaarsveld

Ruzel has over 26 years financial and bookkeeping experience, working with many industries and corporate environments, with extensive knowledge and practical application of trial balance, payroll, VAT, PAYE returns, Inventory control, Management Accounts, E-filing and Procedures of Importing and Exporting.

Ruzel is a seasoned appointed facilitator with Biz Facility, and for numerous years has been presenting various national practical financial workshops to business owners and corporate financial staff.

Who this course is for:

  • Individuals
  • Financial management
  • Business professionals
  • Business owners
  • Business professionals