Tax Happy Hour: Basic Vat Introduction – 22 October 2025

By attending this webinar you will gain the following competence

• • What VAT Is:

    • • Definition and purpose of VAT.
    • • How VAT fits into the broader tax system.

• • How VAT Works:

    • • The concept of input tax vs. output tax.
    • • How VAT is charged, collected, and paid.
    • • Basic supply chain flow of VAT.

• • VAT Registration:

    • • When and why businesses must register for VAT.
    • • Thresholds and obligations.

• • VAT Rates and Categories:

    • • Standard, reduced, zero-rated, and exempt supplies.
    • • Real-world examples of each.

• • VAT Invoicing and Record Keeping:

    • • Requirements for VAT-compliant invoices.
    • • What records must be kept and for how long.

• • VAT Returns and Payments:

    • • How and when to file VAT returns.
    • • Penalties for late submission or errors.

• • Input VAT Recovery:

    • • Which business expenses are eligible for VAT recovery.
    • • Common disallowed inputs.

• • Common Mistakes and How to Avoid Them:

    • • Practical advice on compliance and audits.