When it comes to VAT numbers in South Africa, there are a few things to know. For starters, all VAT numbers have 10 digits. If you’re looking to register for VAT, you’ll need to provide your company’s name, registration number, and VAT number.
Now that we know how many digits are in a VAT number in South Africa, let’s look at some other interesting VAT facts.
How to register your business for VAT in South Africa?
Fill out a VAT 101 form online or in person and submit it to your local SARS office
Submit your application for registration to the SARS branch office
Include the correct documents with your application to register
You will receive a VAT registration certificate (VAT 103)
Interesting facts about VAT in South Africa
Did you know that South Africa has one of the highest VAT rates in the world? At 15%, it’s only beaten out by Hungary (27%), Albania (20%), and Turkey (18%). VAT was first introduced in South Africa in 1991 at 10%. It was increased to 14% in 1993 and then 15% in April 2003.
VAT is such an important part of the South African economy that the government has made it mandatory for all businesses to register for VAT if their turnover is above a certain threshold. For most businesses, that threshold is R1 million.
If you’re doing business in South Africa, it’s important to know about VAT. Not only do you need to charge it on all applicable products and services, but you also need to make sure you’re registered and compliant.
