VAT

Why Lexis® Practical Guidance: VAT?

Lexis® Practical Guidance VAT is an online, practical tool that provides up-to-date information and practical guidance on VAT-related matters. Offering assistance on vital aspects such as the registering for VAT, submission of VAT documents, avoidance of penalties and VAT rulings, this product is the perfect addition to our well-received Practical Guidance Income Tax practice area. Practical Guidance VAT provides customisable forms, precedents and checklists for users to download at their convenience. These useful resources make reference to relevant legislation throughout and also include accompanying explanatory notes on the respective rules and procedures to follow. Interpretation Notes, Binding General Rulings and Guides Issued by SARS are just some of the additional practical aids that users will have access to.

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  • Guidance Notes
    Direct access to relevant case law, legislation and commentary works offering practical know-how on specific areas within Income Tax.
  • Practical Aids
    Precedents, checklists, flowcharts and forms are tools you can use to provide advice confidently and execute tasks accurately
  • Breaking News
    Updates on latest developments ensuring that you are at the forefront of an ever changing environment and always stay current.
  • Dynamic Search
    Ability to create and name folders in which to save search results. Get to the right information quickly, with the ability to drill down to relevant information.

Expert Contributors
Ferdie Schneider

B.Com; B.Com Hons (Econ); Post Graduate Higher Education Diploma. M.Com (Econ) (cum laude); M.Com (SA & International Tax) (UJ); Certificate in International Tax (Southern Methodist University); Partner Leadership Development Programme (GIBS)

Ferdie is a Tax Director at BDO and is the National Head of Tax in South Africa. He is a tax expert with deep specialisation in VAT, Fiscal Economics, and Tax modelling. He is also a Master Tax Practitioner at the SA Institute of Tax Practitioners; a Member of the SAICA, SAIA, and SAIT VAT Committees; and a Panel member of National Treasury’s Economic Policy Panel of Experts.

Ferdie worked at SARS (1990 – 1994) and later joined the National Treasury as a taxation economist in 1994. He has served as secretary to the Tax Advisory and the Katz Commission (1994-1996), and was a member of the VAT Committee on Financial Services (Katz Commission) which considered VAT on financial services.

In 2010 Ferdie co-chaired a VAT Credit Retail focus group with SARS on attribution and VAT apportionment; and in 2011 he settled a high value, technical VAT dispute for the insurance industry. He also co-authored KPMG Managing VAT, writes various technical articles for South African and international publications and was a past editor of The Practical VAT Handbook.

 
VAT - Table of contents
  • An overview of the VAT system
  • Registering for VAT
  • How to register for VAT
  • Deregistration
  • Tax periods
  • Accounting basis
  • VAT payments
  • Supplies
  • Zero rated supplies
  • Deemed supplies
  • Typically exempt supplies
  • Financial services
  • Time of supply
  • Value of supply
  • Importation of goods
  • Importation of services
  • Input tax rules
  • Apportionment
  • Denial of input tax
  • Special input tax rules
  • Documentary requirements
  • Exceptions
  • General adjustments
  • Change in use
  • Penalties
  • Interest
  • Assessments
  • Dispute resolution
  • Alternative dispute resolution (ADR)
  • Obtaining a tax ruling
  • Types of rulings
  • Using the Tax Administration Act to manage VAT

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