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How do I register my company for VAT?

VAT registrations are the most time consuming of all the SARS registrations and they require the main shareholder/director of the company to go in to SARS for an interview when the documentation is submitted. In order to qualify for a voluntary VAT registration, a company must have had a minimum of R50 000 worth of sales within the preceding 12 month period.

The basic documentation required for a VAT registration is the following:

  • Completed VAT101 form
  • Certified copies of the ID documents of the two main shareholders
  • Certified copy of the certificate of incorporation
  • Recent municipal bill of the company, or
  • CRA01 form signed by the landlord with a certified copy of the landlords ID, and
  • Copy of the lease agreement between the company and the landlord
  • Letter from the bank, cancelled cheque or bank stamped bank statement
  • Invoices showing at least R50 000 worth of sales
  • Bank statements showing at least R50 000 worth of receipts
  • Customer statements linking invoices to receipts on the bank statements

Do I need to submit a tax return?

Where individual taxpayers receive remuneration which is less than R250 000 during the tax year, they may elect not to submit an income tax return, provided the following criteria are met:

  • Their remuneration is from a single employer;
  • Their remuneration is for a full year of assessment (1 March – 28/29 February);
  • No allowance was paid, from which employees’ tax was not fully deducted;

No further deductions need to be claimed or income declared.