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Value added tax

Red denotes recent changes.

Standard rate from 7 April 1993 14%

Registration threshold

Date	Total value of taxable supplies for any 12 month period
To 28 February 2009	R300 000
From 1 March 2009	R1 million

Frequency of returns

Months	Total value of taxable supplies for any 12 month period
Bi-monthly	Up to R29 999 999
Monthly	From R30 million
4 monthly	Up to R1.5 million (only for small businesses)
6 monthly	Up to R1.5 million (only for farming businesses)
Annually	Only for inter group letting or administration company
	or trust fund

Deregistration
Vendors who deregister for VAT by 30 June 2009 as a result of not meeting the R1 million threshold, or those who will be registering for the turnover based tax as a micro business, are liable to account for output tax on certain business assets. However, relief is available to pay the output tax in 6 equal monthly instalments without incurring penalties and interest.

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