Posts tagged [V18 VAT Upgrade]
South Africa will see its first VAT rate increase for the first time in 25 years on 1 April 2018.
The effective VAT rate will rise from 14% to 15%.
Regardless to say, an increased VAT rate necessitates a change in your current accounting system. As per the linked documents (below), this is not a simple change as there are timing & default settings to take into account, such as forced tax types, recurring batches & tax box report changes.
As a Sage Pastel Cover client, Sage Pastel have developed a build upgrade for Versions V14, V17 & V18, to make the change-over easier.
To read and download all additional information, including SARS Guidelines, Manual VAT Change-over Instructions for End-of-Life Packages, Check List etc, Click Here