When can your Company register for VAT
You only have to register for VAT if your turnover / sales is more than R 1 million over 12 months. South African law requires you to register for VAT in this instance.
It is compulsory to register for VAT within the first 21 days after you’ve hit that R1 million mark.
You can voluntarily register for VAT if your turnover (sales) is more than R50 000 a year or if you have invoices that show you’ve earned more than R4200 per month – this can be done through us.
So essentially VAT is voluntary for smaller companies and compulsory for large companies. The reason why it’s voluntary for smaller companies or businesses is simply that your benefit largely depends on the nature and size of your business.
If you need assistance with registering your company for VAT, Sign up for a free consultation by following the link here: https://companypartners.co.za/contact...