Vat 201 Form Download Sars
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The New VAT Return Form Has Arrived In a bid to align with international best practice, SARS introduced a new VAT return form (VAT 201) on 28 June 2010. The new VAT 201 form requires the separate declaration of Value-Added Tax in respect of the import and export of goods into and out of the Republic of South Africa.Although the 2010 Taxation Laws Second Amendment Bill proposes that the VAT Act be amended to allow vendors to account for VAT on imported services on their VAT return (as opposed to the completion of a separate return), no such separate disclosure for imported services is required on the new form. The changes to the VAT 201 form will impact all vendors, but specifically vendors involved in the import and export of goods.These vendors will now be required to indicate separately on their VAT forms the value of all transactions involving the import and the export of goods.
SARS introduced several changes to the value-added tax (VAT) vendor declaration form on 11 April 2011 in its bid to 'modernise”. In a letter to VAT vendors, it said that 'vendors need to note that from 11 April 2011, all VAT submissions are required to be on the new VAT 201 form,including any submissions for periods prior to March 2011”.