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Queries to SARS inevitably end up in vague answers – with no help offered!
Vat is a self-assessment system, which means that you must calculate whether you are liable to pay to SARS or receive from SARS.
Do you pay a monthly short-term insurance premium, for example to insure your premises or stock against theft, damage or fire?However, international air travel, and passenger transport by road and rail don’t attract Vat, and so you can’t claim it back.Remember the Golden Rule: You can’t claim it unless you’re charged it.Do you purchase flower arrangements for your reception area? You can claim back the input tax on these everyday office expenses. This way you won’t have to photocopy 5 000 invoices, when they ask for them?✓ Make sure all the documents, books, invoices, etc relating to that specific Vat return are available.