What do VAT Returns consist of
VAT Returns are submitted via a VAT201 Form and is a record of all the transactions processed in the VAT period.
These transactions include purchases and sales, which are totaled in a VAT Report.
The sales are counted as Output VAT and the purchases are counted as input VAT – the difference between the two will be VAT payable or refundable.
Frequently asked questions
What is the VAT rate
The standard VAT rate is 15% as of 1 April 2018.
What are the VAT deadlines
Deadline for VAT Submissions and Payments (payments should clear with SARS on these dates):
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PAYMENT METHOD
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VAT RETURN DUE DATE
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PAYMENT DUE DATE
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Payments at Banks
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25th
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25th
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EFT’s
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25th
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25th
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Efiling + EFT’s
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Last business day
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Last business day
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What are the VAT Categories
VAT Submission periods are dependent on which category you fall into when it comes to a vendor. The following categories are applicable (calendar months):
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CATEGORY
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CALENDAR MONTHS
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DETAIL
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Category A
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Every 2 months (odd months)
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Submit a return for every 2 months ending: January, March, May, July, September, and November
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Category B
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Every 2 months (even months)
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Submit a return for every 2 months ending: February, April, June, August, October, and December
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Category C
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Every month
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Applicable if a vendor’s revenue exceeds R30m in a consecutive 12-month period or if selected voluntary.
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Category D
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Every 6 months
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Last day of February and August. Mainly for farmers under R1.5m and micro businesses
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Category E
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Every 12 months
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Applicable to companies or trust funds that carry on letting and administration activities as per Chapter 3 of the VAT 404 guide.
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