VAT stands for value added tax, which is a 15% tax added on final good or services by VAT vendors. All businesses making above 1 million a year are required to become VAT vendors. Businesses making below that can as well elect to register as VAT vendors. VAT vendores are required to submit monthly vat returns, if not, then admin penalties may be imposed by SARS.
If you are a registered VAT vendor or would like to become one, then our registered tax practitioners will help your comply with this requirement buy registering your busness for VAT and submitting your monthly VAT submissions as required by South African Companies Act