Guide for completing the value added tax vat201 declaration sars. South african revenue service sars introduces new value. A new vat201 declaration in landscape format has been introduced. Sars hereby grants the user the right to view, download, and print the material and content made available on and through the sars efiling web site in accordance with the rules and these terms and conditions for the purposes of accessing and, upon registration, using the efiling service. Via sars efiling for registered e filers by calling the sars contact centre on 0800 00 sars 7277 or. If you have already registered your business with sars efiling system, you can omit the second part of the process, and send through your documentation from your laptop. You can also fax the relevant documents to ensure speedy registration. As a registered taxpayer you can signup to use the sars efiling service which allows you not only to file a return, make payments to sars or request a tax clearance certificate but also gives you access to many other benefits via an electronic platform. Your vat return will need to be submitted on the last business day of the month following your. Copies of the vat201 declarations printed from efiling and used for manual filing will not be accepted and will not be processed by sars. Sars believes that the changes being introduced will help to improve efficiency and compliance across the different taxes administered by sars. For all capital and other goods andor services supplied to you and charged with vat at a rate of 14%, please use field.
This is done by by offsetting input tax against output tax. The new valueadded tax vat return for the remittance of vat vat 201 form is now available in april this year, the south african revenue service communicated to vendors its intention to address the declaration and payment of valueadded tax vat in respect of the import and the export of goods. The vat 201 return is a declaration that needs to be made at the end of every tax period. During 2010 sars announced that certain changes will be made to the vat vendor declaration form vat201 declaration aimed. Sars proposed treatment to complete the vat201 return is discussed below. The reporting is done via a vat201 form, which is completed and filed online via the sars efiling portal.
Sars has requested me to submit an it14sd posted september 2017 under taxtims blog after you have submitted the company tax return itr14, sars may request you to complete an it14sd. Change in vat rate how to complete your vat201 tax. I tried to select request correction, however it will not let me alter the input tax amounts. Vat vat201 most businesses will be registered with a 2 month vat period, either odd months i. The prn format for paye is paye reference no tax type followed by a unique alpha numeric. In a statement issued on 25 march 2020, commissioner edward kieswetter said all contact with sars should be conducted using its online channels.
The vat 201 form became available on efiling on 28 june 2010. How to complete the vat201 return after the vat rate. In the case of sars efiling, the prn is automatically assigned by selecting the. If you are not automatically redirected, please click here. Important sars deadlines business owners need to know. Sars intends to expand the services offered through efiling substantially as the service matures. Vat201 efiling user guide for valueadded tax contents 1. As with efiling, you can submit your uif declarations and pay your contributions through this free service. For supplies made on or after 1 april and subject to vat at 15%, the vat201 return should be amended to automatically calculate the vat on consideration vat. The new vat201 form will be available on efiling with effect from today, monday 28 june 2010. In order to submit tax returns electronically online via taxtim or via sars efiling, you will need a working sars efiling profile.
Request for correction and remission, objection, appeal and suspension of payment on efiling. The benefit of no interest, penalties, or prosecution will remain effective if the return and payment are submitted via efiling or eft on or before the last business day of the. The mrn values are found on the sad500 form used in customs. Basically, almost every good or service transacted in south africa has an indirect tax charged on it by the sars south african revenue service. Sars announces emergency measures during covid19 lockdown. Once a return is filed via efiling, sars will often request that the. Each monthly vat201 form that you request from sars will have its own unique prn which will be used. Sars teams have been working on changes to the systems which are used to receive vat declarations made by vendors and calculate any vat refunds or vat due to sars. For supplies made on or after 1 april and subject to vat at 15%, the vat201 return should be amended to automatically calculate the vat on consideration vat inclusive amount. Sars efiling is a free, online process for the submission of returns and declarations and other related services. The last day of the month or the last working day preceding the last day of the month.
Search for a specific document here or see an alphabetical list of guides, manuals, policies, forms, brochures and legal publications. This free service allows taxpayers, tax practitioners and businesses to register free of charge and submit returns and declarations, make payments and perform a number of other interactions with sars in a secure online environment. Sa revenue services sars has announced alternative processes during the covid19 lockdown period so that taxpayers and accountants are able to engage with the tax agency. List of sars forms the following list of forms are only available via efiling or at a sars branch.
Fill in the form below and a friendly student consultant will contact you to ensure this is the. Sars is ready for the new vat rate heres what every sa. It also includes the amount that youre entitled to deduct as input tax. With the new efiling app, taxpayers are able to complete and submit their annual income tax returns quickly and easily on their smartphones, tablets or ipads and receive their assessment. Vat119i indemnity iro vat act bank details external form. This will enable sars to link the actual payment to the payment declared on the vat201 form. Best bet most relevant search result site page pdf document. Sars will expect registered vendors whose tax periods span between the old vat rate of 14% and the new vat rate of 15% to declare these transactions on a single vat201 return. General disclaimer these tutorial videos are provided to help taxpayers understand their obligations and entitlements under the tax acts. Unauthorised usage of content andor information is strictly prohibited. One of the questions we are asked most often by visitors to our website is. Vat202e notice of change of tax period iro the submission of a return vat 201 external form.
The form will affect all vendors, specifically those involved in the import and export of goods. Now i have 2 or 3 returns which are showing for this period, all with the incorrect. The income tax supplementary declaration it14sd form is only applicable to companies and not yet. You can file your vat returns through sars efiling system. The new vat201 form will be available on efiling with effect from today, monday, 28 june 2010. As a business, there are several benefits to be enjoyed from acquiring a vat number, but prior to that, you must be knowledgeable about the vat registration requirements as specified by the sars. Vat submission due date via efiling south african tax guide. Sars recently provided limited public guidance on how to complete the vat201 return going forward. Notice of change of tax period iro the submission of a return vat 201 external form. How to find out and what to do about a pending registration. Vat registration requirements list in south africa 2020. The south african revenue service sars is in the process of.
Unemployment insurance uif filing is done separately on. The difference is either paid to sars or a vat tax refund is paid by sars to the vendor if a vendor is entitled to a vat tax refund, sars is required to pay that vat refund. Below is a quick guideline to important sars deadlines. If a vat201 submission has already been submitted, and paid via efiling what would be the correct procedure to correct the returns amount. Each vat201 form will have its own unique prn number, which will. All sars forms list of efiling forms all sars guides all sars policies all sars manuals all sars brochures. Please note that payments are due on the following dates. The payment profileon efiling will be segregated, allowing employers to.
All information, content and data on sars websites and associated facilities, including but not limited to software, hyperlinks and databases, is the property of or licensed to sars and is protected under applicable south african laws. Sars is not requiring vat vendors who use efiling to submit vat returns on the 25th of the month. The vendor must use this number when making vat payments to sars. This only applies if payments are made via the sars efiling payment mechanism. Please note that the unique prn number on the vat 201 form provided by sars must be used when making payments. Taxpayers who submit their vat201 manually must utilise the form as was provided to them by sars. One of the aspects of compliance that sars wishes to address is the declaration and payment of valueadded tax vat.
Do i owe sars money in this instructional video we explain how you can find out whether you owe sars money or. This declaration reflects the vat that youve charged, or for which you are liable to declare as output tax. For all standard rated supplies where vat at 14% has been levied or is applicable, please use field 12 other and imported services on the vat201, to declare the output tax. The sars efiling app is an innovation from the south african revenue service sars that will appeal to the new generation of mobile taxpayers. Follow these steps to see if your profile is ready to use, or still. Request for correction and remission, objection, appeal. Do your tax return easily avoid penalties maximise your refund tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place. Hi there i have 2 questions which i need assistance with please. The vat201 form contains a new payment reference number prn.
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