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R10 Refunds: Claim your foreign Vat in 3 easy steps
Tax Bulletin | 29 January, 2009 | Hot Topics:
Dear Reader
Your first Vat update of 2009 (Update 1/2009) is in the mail and on its way to you. In this latest update, we’ve included chapters that are certain to put a little cash back into your business and help you fly under SARS’ radar. Two of the seven chapters we’ve included are:
R10 Refunds: Claim your foreign Vat in 3 easy steps
Did you know that if you or your employees travel overseas on business you could be entitled to claim some of the Vat paid in those foreign countries?
Depending on which country you travelled to, you could be entitled to claim back the Vat paid on hotel expenses, professional costs, taxi fare and numerous other costs usually incurred on business trips. Take a look at chapter R10 to find out which countries allow for refunds and what expenses you can claim Vat back on.
A09 Audits: 14 tips for avoiding a Vat audit
Would you like to become invisible to SARS? I know I would! Unfortunately, it’s impossible (and illegal) to conduct your business completely beyond SARS’ reach, but it is possible to implement very simple business practices that’ll ensure SARS doesn’t earmark you as a prime candidate for a Vat audit.
This update will give you a great start to your Vat year. Don’t miss out!
Don’t forget that to receive the updates, you must be a subscriber to the Practical Vat Handbook.
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Do you know SARS will still be collecting from you after you die?
Even when you’re snug in your grave, SARS will want its share. However, you can die in peace knowing that the following assets are protected from estate duty:
1. The first R3.5 million in your estate after all other deductions have been taken into account
2. All the assets you leave to your spouse
3. Rights of action that originate offshore, such as legal claims
4. Offshore assets you acquired before you became a South African resident.
Until next time,
Nothando Hlatshwayo
Managing Editor
The Practical Vat Handbook
PS: If you require a new binder or have a query regarding payments, deliveries and change of address details, please send an email to queries@fsp.co.za.
Editors note
Fulvia Becatti
Tax Bulletin Editor
The Tax Bulletin is packed full of tax tips, commentary on changes to the tax landscape and is also an interactive tax forum which aims to help you efficiently manage your taxes and avoid all the traps. It is also a handy reminder of the deadlines which taxpayers have to meet.
