Screenshot VAT deregistration Hi Mikeyg84, thanks for getting back with that screenshot You'll need to turn on tax before you see this option, to do this, simply select the 'Taxes' tab on the left-hand navigation menu and enter information on the panel that appears - as you're not VAT registered, you can simply enter dummy information here you can change this information if you do become VAT registered in the future.
VAT Deregistration. Record repayment due for assets kept on vat dereg Import VAT. Welcome to another 'Ask Me Anything' style interview where we sit down with Read more. Save Money and the planet with Octopus Energy Move your business onto As we experience early , we realise that there may be various top-of-mi Need to get in touch? Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
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Too many of us are guilty of not paying enough attention to day-to-day financials. Mark Wright helps change your money mindset. Skip to content. Related Topics VAT. Leave a comment. Cancel reply Your email address will not be published. Who can cancel a VAT registration?
Where a vendor initiates the cancellation of the VAT registration, the vendor must apply to the Commissioner if — the value of taxable supplies will be less than the compulsory registration threshold of R1 million in any consecutive period of 12 months, or the vendor has ceased to carry on all enterprises.
What is the process of cancelling a VAT registration? The circumstance that gives rise to the cancellation must be clearly stated on the VATe or in a separate letter attached thereto.
The letter of acknowledgement may provide further instructions regarding the cancellation process. The vendor must continue to charge VAT on supplies made and account for output tax and deduct any input tax up to the last day of the final tax period as was advised by the Commissioner.
Exit VAT being the output tax on assets on hand at date of cessation must be declared together with any other output tax and input tax for that final tax period in the that VAT return.
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