n Tax Breaks Newsletter - Questions & Answers

Volume 2006, Issue 244
  • ISSN :



Extracted from text ... 8 May 2006 Moneyweb's TAX BREAKS QUESTIONS & ANSWERS Q. I understood from your March Budget coverage that with effect from 1 July 2006, the VAT registrations threshold for small farmers and small businesses would increase from R1 million to R1.2 million. I contacted SARS but they do not know anything about this amendment. Where can I get more information? A. Ferdie Schneider, director: Tax and Legal, Indirect Tax at KPMG, replies: Any person carrying on an "enterprise" is required to register for VAT purposes when the total value of taxable supplies exceeds or is likely to exceed the ..

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