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mrmouse

selling and VAT

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mrmouse

If a seller is a powerseller and sells say 200 items of R2000. each over a year , he is then surely over the VAT threshhold for small business must he register for VAT , and does he issue a VAT slip with his sales ? are you not classified as a small business on BOB if you sell items , ? what are the implications ?

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qball

You need to contact SARS for information. As afr as we know the annual threshold has moved to R1 million per year. But please confirm with SARS.

 

Thanks

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