VAT 201 return in South Africa
ID:18CVV201
Video Overview
In this tutorial we are going to take a look at VAT 201 return in South Africa. We will investigate how and where to submit your VAT 201 return, what to do if you make an error on your VAT 201 return, how to pay your VAT output over to SARS, as well as a few other helpful facts about VAT 201 submission in this country. It is an important and useful skill to be able to efficiently submit a VAT return as many businesses outsource this responsibility to a tax consultant or accountant. It is also important to submit your VAT 201 return on-time so as to avoid unnecessary late penalties and interest. If your VAT is not paid on-time, then a penalty of 10 % of the outstanding amount is added to the balance owed as well as interest at the prevailing rate charged each month or part thereof.
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