Tag: vat

VAT Registration & Deregistration

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three stacks of coins with scrabble tiles stacked on them to spell out VAT

Who Should Register for VAT? Any person that carries on business may register for VAT. You can register once for all different tax types using the client information system. The term person is not only limited to companies but also includes, amongst others, individuals, partnerships, trust funds, foreign donor-funded projects and municipalities. In order to…

Zero-Rated, Exempt & Deemed Supplies

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Zero-rated supply – refers to items that are taxable, but the rate of tax is nil on their input supplies. The government doesn’t tax its retail sale but allows credits for the value-added tax (VAT) paid on inputs. This reduces the price of a good. Governments commonly use zero-rated goods to lower the tax burden…