South African VAT Rates
The standard VAT rate is 15%. Exports, certain foodstuffs, and other commodities are zero-rated, while others are exempt (mainly certain financial services, residential accommodation and public transport).
What is the 2022 VAT rate in South Africa?
15%
VAT is levied at the normal rate of 15% on products and services supplied by registered vendors. A seller who makes taxable supplies worth more than R1 million per year is required to register for VAT.
When did VAT in South Africa become 15%?
1 April 2018
In the 2018 Budget Speech, the Minister of Finance announced a VAT rate rise from 14% to 15%, beginning 1 April 2018.
In South Africa, how do I compute VAT?
VAT is determined by dividing the total pre-tax cost by the VAT rate (15% in South Africa). VAT is subsequently added to the buying price.
What items are exempt from VAT?
HMRC maintains a comprehensive list of VAT-exempt products, but some of the most common goods and services that are VAT-free include sporting activities and physical education.
Education and training are essential.
Some medical procedures.
Investments, insurance, and financial services
