South Africa Simplifies VAT Registration Process
The South African Revenue Service (SARS) has announced the introduction of
a simplified and streamlined VAT registration process, which came into effect
on 1st February. According to SARS, the new VAT registration significantly reduces the paperwork
required for registration, and provides for the instant issuing of VAT registration
numbers over the counter at SARS branches. The new application form has been reduced from a seven page document to four
pages, with a reduction in the required number of supporting documents accompanying the
registration form from a previous maximum of 12 to only two key documents –
copy of ID and proof of banking details. "SARS has been working hard to reduce the administrative burden for business
in line with government’s efforts to encourage the growth and development
of small business," the tax department explained in a statement announcing the
new form. "This also forms part of ongoing work to streamline all SARS processes
and enhance efficiency for taxpayers," the statement added. SARS has made the new VAT 101 registration form and accompanying guidance available
on its website or from any SARS branch. However, to allow for a transition to the
new process, SARS will still accept the old forms and process them according
to the new Standard Operating Procedure until 31st March 2008. .
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