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Tax Happy Hour - VAT Update

To provide participants with a basic overview of the following: · Basic mechanics of VAT. · Pitfalls and opportunities in VAT management · VAT modernization process · Consequences if VAT rate were to increase with specific reference to transitionary rules. · VAT Risk Management – processes and procedures to minimize VAT costs.

1 CPD unit 19 March 2025 1 presenter

What will set you apart

By completing this course you will gain the following competencies

  • By attending this webinar you will gain the following competencies
  • 1. Practical application of VAT with simple examples explaining complex principles.
  • 2. Summary of VAT legislation in simple to use mind-map format.
  • 3. Importance of pro-active VAT management – processes and procedures.

Event breakdown

  • 1. Basic principles of VAT
  • 2. Layout of VAT Act – Kreston mindmap.
  • 3. Zero rating of VAT.
  • 4. Denial of input tax.
  • 5. Transitionary rules if VAT rate increases
  • 6. Commonly made mistakes.
Category: TaxationType: CPD CourseCPD category: Tax

Description

Approximately 25% of total taxes are collected via the VAT system. As a transactional based tax, it is arguably the most complex form of tax to be managed pro-actively by any taxpayer. Not only is a vendor exposed to incorrect interpretation of complex legislation but is also exposed to the incorrect recordal of VAT liabilities due to incorrect set-up of ERP systems. Added to this is the onerous documentary requirements supporting for example the zero rating of VAT. The potential increase of the VAT rate from 15% to 17% will also require taxpayers to implement transitionary legislation correctly. This VAT update will highlight relevant tax legislation and equip taxpayers and their advisors to correctly manage the VAT of a VAT vendor.

Presenters

Johan Heydenrych

Johan Heydenrych — Johan Heydenrych is a Chartered Accountant and tax specialist with more than 30 years of experience in taxation. He was a Tax Partner at KPMG from 1997 to 2020 and is currently a Partner in the Kreston SA network. Johan holds an MCom in Taxation (Cum Laude) and advises clients across a wide range of industries on tax governance, compliance, disputes, technical tax matters, restructurings, mergers and acquisitions.

You will earn a certificate

On successful completion you will receive a certificate for 1 CPD unit in Tax.

Requirements

  • Laptop, desktop, or mobile device with internet access
  • Microsoft Edge, Google Chrome, Safari, or Firefox browser