Value Added Tax (VAT) Explained
National Treasury has increased South African Value Added Tax (VAT) by 1% from 14% to 15% as from the 1st of April 2018.
What does this mean to customers?
- Valid Quotations transacted after the 31st of March 2018 will INCLUDE the 1% extra VAT.
- Product prices have not changed – only the tax percentage.
- We do not directly benefit from the tax increase, we are obliged to submit it to the Receiver.
- Its not optional, its the law.
We hope we have your understanding in this regard