Published 1/2023MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHzLanguage: English | Size: 2.17 GB | Duration: 2h 4m
A course on VAT in South Africa - Input Tax for Everyday Users What you'll learn Understand the basic principles of Value Added Tax (VAT) - Input Tax in South Africa Identify different categories of Input Tax Identify different supplies and the VAT Application thereof Discussion on non-deductible input tax (entertainment etc) Obtain a working knowledge of VAT documentation and requirements (tax invoices, debit and credit notes etc,) Gain an understanding of sundry input tax adjustments Understand the general rules on irrecoverable debts Completion of VAT Return Requirements It is recommended to have a general understanding of VAT in the workplace, preferably working in an accounting or tax environment. However, prior training or experience in the field is recommended but not a requirement for this course. Description Welcome to the world of Value Added Tax (i.e. VAT) in South AfricaWHAT IS INPUT TAX?Input tax is the terms used for VAT that is paid on the acquisition of goods or services that may be claimed back by a VAT vendor. Understanding the rules governing the deductibility of input tax and when input tax must be claimed is an essential skill in the management of a VAT function. It ensures that:· The correct amount of VAT is claimed.· That the VAT vendor is not exposed to the imposition of potential penalties and interest on the late or short payment of VAT.· It assists with the cash flows in an organisation by ensuring that input tax is claimed as soon as possible.WHY THIS COURSE?In this course we deal with the basic VAT principles applicable to organisations in general.After completion of this course you should:1. Have a working knowledge of the various Input Tax deductions;2. Understand the concept and application of non-deductible expenses;3. Understand the different documentary requirements for Input Tax;4. Understand the application of specific transactions; and5. Be able to complete the Input Tax section of the South African VAT returnMAKE A CHANGE!Think Big, Start Small and Learn Fast! Overview Section 1: Introduction - Input Tax (Course Material) Lecture 1 Course Material Section 2: Value Added Tax for Everyday Users: Input Tax Lecture 2 Input Tax Lecture 3 Input Tax on Second-hand Goods Lecture 4 Input Tax on Repossessed / Surrendered Goods Section 3: Section 2: Non-Deductible Input Tax Lecture 5 Non-deductible Input Tax - Introduction Lecture 6 Input Tax on Entertainment Lecture 7 Input Tax on Club Subscriptions Lecture 8 Input Tax Motor Cars Lecture 9 Apportionment Section 4: Documentary Requirements Lecture 10 Tax Invoices Lecture 11 Electronic Invoicing Lecture 12 Credit Notes Lecture 13 Correction on Tax Invoices Section 5: Other Deductions Lecture 14 Indemnity Payments Made Lecture 15 Excess Consideration Refunded Section 6: Irrecoverable Debts Lecture 16 Irrecoverable Debts Section 7: Completion of the VAT Return Lecture 17 Completing the VAT Return Section 8: Quiz ! Tax Accountants, Tax Practitioners, Accountants, Accounting Clerks, Employees in the Financial department of your company HomePage:
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