South Photography equipment Revenue Support
Lehae la SARS, 299 Bronkhorst Avenue, Muckleneuk, 0181 Private Bag X932, Pretoria, 0001, S. africa Tel.: +27 422 four thousand, Fax.: +27 422 5181
IMPROVED VALUE-ADDED TAX OPERATIONS AND METHODS
Since Apr 2011 SARS has been introducing changes to Value added Tax (VAT) that are directed at improving the systems, streamline processes and enabling conformity. The initially changes to VAT were executed in April 2011 and included the subsequent: вЂў The creation of an increased VAT201 Declaration with added fields for demographic information and the declarant's signature вЂў A unique 10-digit Payment Client name (PRN) which usually links you see, the payment designed to the repayment declared within the VAT201 Assertion for a certain period вЂў The rupture of the programmed issuing of VAT201 Declarations and the required requirement for vendors to demand their VAT201 Declarations from SARS. By May 2011 the following improvements and innovations have been executed: вЂў The introduction of a Ask for Correction efficiency to enable distributors to change their VAT201 Declarations вЂў A new SARS Risk Profiling System which will evaluate almost all VAT 201 Declarations submitted. As of one particular July 2011, the following alter will be implemented: вЂў The discontinuation of manual charge order agreements currently registered with SARS for payment of VALUE-ADDED TAX 201 policy riders. Discontinuation of Manual Debit Orders Debit order agreements currently registered with SARS for the filing of manual VAT201 returns will be discontinued with effect via 1 September 2011. Not any new debit order applications will be recognized for the manual submitting of VAT201 forms. Clients that would like to apply and/or continue to use the debit order function are required to register for eFiling which is free, secure, far more convenient, reliable and accurate. This payment strategies are available to clients: u eFiling to Electronically using the Internet o At a part...