Pretoria, 27 March 2018 – The South African Revenue Service (SARS) is ready to implement the increase in Value-Added Tax (VAT) announced by the Minister of Finance in February.

The Minister announced that the VAT rate would increase from 14% to 15% as from 1 April 2018.

SARS teams have been working on changes to the systems which are used to receive VAT declarations made by vendors and calculate any VAT refunds or VAT due to SARS.  Changes to the VAT201 form have been made to reflect the increase in the VAT rate.

Vendors who use SARS eFiling to submit their VAT return and have saved returns that span periods before and after 1 April 2018 will notice that those saved returns have been removed as they contain incorrect VAT rates. Vendors must request a new VAT201 on eFiling.

SARS would also like to urge vendors to update their systems to align to the new VAT rate in preparation for 1 April 2018. This will minimise confusion for the customer and make it easier for vendors to remain tax compliant and make the correct declarations to SARS.

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