Posts tagged [VAT FAQ]
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 are currently developing a build upgrade for Versions V14, V17 & V18, to make the change-over easier.
Expected release dates for these build updates:
16 March 2018 - V18 Upgrade will be available
23 March 2018 - V17 and V14 Upgrades will be available
Should you wish to upgrade & need consultant assistance prior to 1 April 2018, advanced bookings are essential. There is no cost for the software, if you are a cover client but there will however be a charge for the consulting time. Please contact our offices timeously for a quotation or to book an appointment.
All PC's must be on either Windows 7 or 10 and Server 2008R or higher with all windows updates installed for V18 Pastel packages to function optimally.
Your current Pastel version can be modified manually following the instruction document supplied herewith.
Click here to download your Manual Instruction Procedure (Non Cover Clients & Versions Older than V14)
Click here to download your SARS VAT Change-over Frequently Asked Questions
Click here to download your SARS VAT Change-over Pocket Guide
Click here to download your Pastel VAT Change-over Checklist
Wishing you all a very successful switch-over to 15% VAT!