Tax Happy Hour - VAT Update
To provide participants with a basic overview of the following: · Basic mechanics of VAT. · Pitfalls and opportunities in VAT management · VAT modernization process · Consequences if VAT rate were to increase with specific reference to transitionary rules. · VAT Risk Management – processes and procedures to minimize VAT costs.
1 CPD unit March 19, 2025 1 presenter
What will set you apart
By completing this course you will gain the following competencies
- By attending this webinar you will gain the following competencies
- 1. Practical application of VAT with simple examples explaining complex principles.
- 2. Summary of VAT legislation in simple to use mind-map format.
- 3. Importance of pro-active VAT management – processes and procedures.
Event breakdown
- 1. Basic principles of VAT
- 2. Layout of VAT Act – Kreston mindmap.
- 3. Zero rating of VAT.
- 4. Denial of input tax.
- 5. Transitionary rules if VAT rate increases
- 6. Commonly made mistakes.
Category: TaxationType: CPD CourseCPD category: Taxation
Description
Approximately 25% of total taxes are collected via the VAT system.
As a transactional based tax, it is arguably the most complex form of tax to be managed pro-actively by any taxpayer. Not only is a vendor exposed to incorrect interpretation of complex legislation but is also exposed to the incorrect recordal of VAT liabilities due to incorrect set-up of ERP systems. Added to this is the onerous documentary requirements supporting for example the zero rating of VAT.
The potential increase of the VAT rate from 15% to 17% will also require taxpayers to implement transitionary legislation correctly.
This VAT update will highlight relevant tax legislation and equip taxpayers and their advisors to correctly manage the VAT of a VAT vendor.
Presenters
Johan Heydenrych — Johan
You will earn a certificate
On successful completion you will receive a certificate for 1 CPD unit in Taxation.
Requirements
- Laptop, desktop, or mobile device with internet access
- Microsoft Edge, Google Chrome, Safari, or Firefox browser