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TOPIC: VAT Registration

VAT Registration 6 years 7 months ago #3345

  • Godfrey
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How do we deal with big companies that require to do business with VAT registered companies. For instance I currently got a big client in December but unfortunately after invoicing just two invoices the Accounts dept wants to stop doing business with us because we are not VAT registered. We are not yet VAT registered. Is there any other way to deal with this?.
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Re: VAT Registration 6 years 6 months ago #3356

You can only register for VAT if your annual turnover is in excess of R1 mil. You can however do a voluntary registration if your turnover will exceed R50 000 p.a
Last Edit: 6 years 6 months ago by Francois Carstens.
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Re: VAT Registration 6 years 6 months ago #3357

To register for VAT you turnover must be R1mil a year, but you however can voluntary register for VAT is your turnover is more then R50 000 per year.
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VAT Registration 6 years 5 months ago #3416

  • Rudi
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You can also offer them 14% discount, if it's feasible, on the basis that you're not VAT registered but let them know that you're going to discontinue the discount as soon as you're VAT registered again.
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VAT Registration 6 years 5 months ago #3418

  • Matthew Haddon
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If your last two invoices exceed R50,000 i suggest registering for vat and adding vat to your invoice. You client will not be prejudiced as they will claim the vat back from sars anyway. I.e. Cost + vat = gross. You still make your usual income.

If that is what you have to do to keep the client then make the sacrifice. Just remember that you will have to consider the impact adding 14% to all your invoices will have on your other clients.
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