Can a company register for VAT at inception or must it commence trade first?

By Marc Sevitz · Updated

I would like to know at what point should a business register for VAT. Can it register immediately or must the company first make R50 000 and produce bank statement to prove this?
TaxTim Marc

TaxTim Marc said:
10 September 2013 at 20:35

You can register for VAT if you can show R50 000 worth of invoices or if you expect to have turnover greater than R1 000 000 in the coming 12 months. So a bank statement and related invoices will be needed.
Cormac

Cormac said:
10 September 2013 at 20:49

Thank you, your site is informative and I must say that it explains everything in a manner that even 'non financial' people can understand. Thank you again!!
TaxTim Marc

TaxTim Marc said:
10 September 2013 at 20:52

Only a pleasure! Glad we could assist, that is exactly what we are trying to achieve!
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