A rose by any other name is not so sweet when it comes to VAT
VALUE-ADDED TAX (VAT) is one of South Africa’s most significant indirect taxes, affecting businesses and consumers alike. However, while most people know that the standard VAT rate is 15%, fewer understand that not all goods and services are treated the same for VAT purposes.
The Value-Added Tax Act 89 of 1991 (as amended) divides supplies into three main categories: standard-rated, zero-rated, and exempt supplies. Understanding the difference is essential for business owners in particular, as it affects pricing, compliance, and the ability to claim input VAT back from SARS.
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