Practical VAT Masterclass

The programme

Programme overview

Maximize your VAT recovery potential in the mining and manufacturing sectors with this comprehensive two-day masterclass. This intensive program is designed for auditors, independent reviewers, company accountants and supporting staff, business owners, finance managers, VAT enthusiasts, and professional accountancy board exam candidates. Gain a deep understanding of VAT refund principles, including diesel refund registration, calculation, and filing, along with strategies for identifying reclaim opportunities and optimizing cash flow. Learn how to effectively respond to SARS verification notices, manage VAT audits, and navigate dispute procedures. This course will equip you with the knowledge and tools to comply with record-keeping requirements, develop a proactive VAT strategy, and ultimately improve your organization’s financial efficiency.

Who should attend

Who is this programme for?

• Auditors,
• Independent Reviewers
• Company accountants and supporting staff
• Business owners
• Finance managers
• Members of the public interested in VAT
• Professional accountancy board exam candidates

Learning outcomes

What you will learn

By the end of this Value Added Tax (VAT) training course, participants will be able to:

• Comprehend VAT refund principles
• Accurately calculate and file VAT returns i.r.o diesel refund
• Identify VAT reclaim opportunities to improve cash flow
• Respond to SARS verification notices and attend to any VAT audits
• Lodge and file VAT related disputes with SARS
• Comply with the record keeping and document requirements i.r.o diesel refund
• Develop a forward-thinking VAT strategy to optimize tax liabilities and financial efficiency

Explore the programme

Detailed programme outline

Relevant legislation

• Customs and Excise Act, Act No. 91 of 1964.
• Value-Added Tax Act, No. 89 of 1991

The training examines in detail Note 6 of Part 3 of Schedule No. 6 to the Customs and Excise Act, Act No. 91 of 1964. The below key areas are covered, with illustrative examples and case studies:

• Qualifying Activities
• Process for Registration, Application & Claiming of the Diesel Refund
• Scope of relevant Supporting Documents
• Record keeping requirements
• Dispute procedure

Which operations are affected?

• On Land
• Farming
• Mining
• Forestry
• Off Shore
• Commercial Fishing Vessels
• Coasting Vessels
• Off-Shore Mining
• Vessels owned by the NSRI
• Marine Industry Research Vessels
• Coastal Patrol Vessels
• Fibre-Optic Telecommunication Service Vessels
• Harbour Vessels
• Operated by Portnet
• Used by in-port bunker barge operators
• Rail
• Locomotives used for rail freight
• Electricity Generation Plants
• Such plants with a generation capacity exceeding 200 Megawatt per plant.

Learning approach

How you will learn

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.– Course Material: Access well-crafted supporting resources.– Group Work: Collaborate on discussions and case studies for practical insights.– Workshops & Role-Play: Participate in immersive, scenario-based activities.– Practical Application: Focus on applying theoretical knowledge in real situations.– Post-Training Support: Receive extensive support after training for skill implementation.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.