30 June 2010 The South African Revenue Service (Sars) has announced a new form for the remittance of Value Added Tax (VAT). The VAT 201 form became available on e-filing on 28 June 2010. The form will affect all vendors, specifically those involved in the import and export of goods. These vendors will now be required to indicate separately on their declarations all transactions involving the import and export of goods. Taxpayers who submit their VAT 201 manually must use the form that was provided to them by the Revenue Services. “Sars believes that the changes being introduced will help to improve efficiency and compliance across the different taxes administered by Sars,” it said. The updated form includes additional information fields that will have to be filled in like a filed for the calculation of input tax that applies to capital goods imported in respect of which a valid release document is held.

SARS introduced several changes to the value-added tax (VAT) vendor declaration form on 11 April 2011 in its bid to 'modernise”. In a letter to VAT vendors, it said that 'vendors need to note that from 11 April 2011, all VAT submissions are required to be on the new VAT 201 form,including any submissions for periods prior to March 2011”.

The form also includes a field for the calculation of input tax that applies to non-capital goods in respect of which a valid release document is held as well as a customs code next to the filed for “trading or other name”. This is the eight-digit number issued to importers and exporters when they register with the Revenue Service.

For further assistance, vendors can visit a Sars branch or contact Sars on 0800 00 SARS (7277) or visit the.

VAT201 eFiling user guide for Value-Added Tax CONTENTS 1. INTRODUCTION........2 2.

REGISTERING FOR VAT.......2 3. Trap lord zip download sharebeast full. REQUESTING VENDOR DECLARATION......5 4. COMPLETING THE VENDOR DECLARATION.....8 5. SUBMITTING THE VAT201 DECLARATION FOR A SPECIFIC TAX PERIOD...18 6. MAKING PAYMENT........20 7. MAKING ADDITIONAL PAYMENTS......24 8. REQUEST FOR CORRECTION.......25 9.

SUBMITTING SUPPORTING DOCUMENTS......28 10. VIEWING HISTORIC DECLARATIONS......32 11. REQUESTING STATEMENT OF ACCOUNT (VATSA).....32 1. INTRODUCTION Since 2007, the South African Revenue Service (SARS) has been modernising and simplifying tax processes in line with international best practice. Improvements are being made continuously as we aim to better our service standards and increase efficiency and compliance. One of the aspects of compliance that SARS wishes to address is the declaration and payment of Value-Added Tax (VAT). During 2010 SARS announced that certain changes will be made to the VAT Vendor Declaration Form (VAT201 Declaration) aimed not only at improving systems processing but also at addressing SARS’s efficiency regarding risk assessment and tax compliance.

The following changes apply effective April 2011: • A new VAT201 Declaration form in landscape format has been introduced. It contains the same fields as the previous VAT201 form but with the following additional fields: ◆◆ Demographic information ◆◆ The declarant’s signature ◆◆ A Payment Reference Number (PRN) which will be pre-populated by SARS will replace the previous “reference number” This guide is designed to help you complete your VAT201 Declaration accurately and honestly. Note: The words declaration and return are used interchangeably in the document but both refer to the VAT201 Declaration.