SARS AND VAT?

Anybody know about this?

Attached files VAT AMENDMENTS 2013.pdf (19.6 KB)Â

Yes, another 'advantage' in owning horses being removed ?

This may be good for owners, as majority of the small owners would then be able to claim their vat back on their monthly stable and vet fees as well as their other subscriptions and related expenses..............WELL DONE Mr Gorden

Breakeven Wrote:

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> This may be good for owners, as majority of the
> small owners would then be able to claim their vat
> back on their monthly stable and vet fees as well
> as their other subscriptions and related
> expenses..............WELL DONE Mr Gorden


But we already did that (through agents) - now have to register - not sure how easy / difficult that will be?

Yep, u right Frodo....its going to be a real nightmare for SARS officals to try to understand this process and the administration

Breakeven - It won't be ANY nightmare for SARS officials but rather for the smaller owner who is not, as yet, registered for VAT and owns horses on which he has traditionally claimed VAT through an agent.

In case you have not noticed - the onus on claiming ( or paying ) lies with the registered VAT vendor. SARS simply audits the submissions and collects the revenue ( or refunds where appropriate ). But heaven help the vendor who is late in paying - the penalties are severe. So yet another administrative burden ( read : cost ) is heaped on owners who already have little or nothing to show from the activity once the accounts are balanced.

The state makes its money by tax.
However one wonders if SARS ever considers the damage done to an industry by overburdening the players in the industry with tax admin.
Surely they can see that more admin is bad for their business? Collecting their tax cut of the business!
Just my half cents worth.

They would do well to collect their tax cut on other spending related to a thriving industry, like VAT on all items sold at the day and betting tax and PAYE on employed people in a thriving industry. Clipping the wings of industry is bad for tax collection?