Published 1/2023
MP4 | Video: h264, 1280×720 | Audio: AAC, 44.1 KHz
Language: 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 time!
Tax Accountants, Tax Practitioners, Accountants, Accounting Clerks, Employees in the Financial department of your company
Homepage
www.udemy.com/course/vat-input-tax-for-everyday-users-south-africa/
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