Vat 201 Form Download Sars
The new VAT201 form includes: • A field (Field 2A) indicating zero-rated supplies of all goods exported from the Republic of South. • A field (Field 14A) for.
The South African Revenue Service (Sars) is in the process of improving and modernising VAT returns. From April this year, expect the following changes: • Vendors who make payments and submissions electronically will be required to request their VAT201 form electronically. The forms will be made available on their eFiling profile. • The new VAT201 form will include demographic information and the declarant’s signature.
• A payment reference number (“PRN”) will be pre-populated by Sars and will replace the previous reference number. The new VAT return form has been pre-populated with the old reference number so that banks will have the chance to adjust their systems. From April 11 2011, all VAT submissions must be made on the new VAT201 form. This includes any submissions for periods prior to March 2011. The changes do not only apply to the electronic VAT201 forms, but manually submitted forms as well. It is unclear, for example, how the declarant will sign the electronic form.
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We will have to see how the new VAT201 form intends to include these “additional” fields. A number of the fields listed below are already required to be filled in and included in the current VAT201 form. Requesting the new VAT201 form Vendors who request and submit their VAT201 forms and payments electronically will be able to do so from April 11 2011. Any vendor who fails to request the new VAT201 form and wishes to submit and make payment electronically will be in default of their VAT obligations and penalties and interest will be imposed. Note that copies of the VAT201 forms that are printed from eFiling and used for manual submission will be unacceptable. As are photocopied forms.
Making payments In an effort to deter fraud and increase compliance, the following will apply with regard to cheque payments as of May 1 2011: • Sars will no longer accept any cheque that exceeds the total amount of R100 000 in respect of VAT at any Sars office or via post. • Vendors who have a turnover exceeding R30-million in any 12-month period must submit VAT returns in an electronic format and make payments electronically. The new demographic fields When completing the new VAT201 form, the following details of the person responsible for completing the form will be required: first name, surname, capacity, business telephone number, fax number, cellphone number, contact email address. Payment reference number The new VAT201 form will contain a payment reference number (“PRN”) pre-populated by Sars.
The vendor must use this number when making VAT payments to Sars. This will enable Sars to link the actual payment to the payment declared on the VAT201 form. Each VAT201 form will have its own unique PRN number, which will be different from the previous month’s PRN number.
For this reason it is advisable not to make copies of the VAT201 return. Declaration signature Once the form has been completed, the person responsible for such completion will be required to sign the declaration. As noted above, it is unclear how the electronic form will be signed. Watch this space. Read more news, blogs, tips and Q&As in our section.
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