Professional Certificate in Value-Added Tax


Date: Apr 15, 2020 - Jul 31, 2020

Application fee: R450.00

Once-off: R9,960.00

Lecturer: Samantha King

This professional certificate is designed to empower course participants with applied working and practical knowledge of the fundamentals of value-added tax (VAT), whilst focusing on simulated real-life scenarios and the VAT 201 form. During this practical short course, you will gain the skills to assist your business with implementing VAT correctly and how to thrive in the Fourth Industrial Revol...

See what industry expert, Samantha King, has to say about the real-world applications covered in this course - click here.

Course overview

After the diagnostic, course participants will be provided with an e-learning journey to cover the skills and knowledge gaps including:

  • Introduction to VAT and registration.
  • Output VAT.
  • Input VAT.
  • Adjustments.
  • Fourth Industrial Revolution and how data extractions can assist your business to perform VAT reconciliations and VAT saving reviews.

This is followed by a workshop focusing on the following common pitfalls:

  • Registration as a vendor.
  • Principal vs agent.
  • Effect of change in VAT rate.
  • Imports and exports.
  • Deemed supplies.
  • Commercial accommodation.
  • Dispute with SARS etc.

Successful participants will receive a Certificate of Competency from The Tax Faculty and this will secure 40 credits towards the National Qualification Framework (NQF) 6 Occupational Certificate.
 


Course format

Part 1: Orientation a diagnostic (self-paced)

The course begins with an orientation session covering the learning journey with The Tax Faculty.

Course participants will have 48 hours to complete a VAT compliance and fundamentals diagnostic to identify unique individual knowledge gaps that will direct the individualised learning programme.

Effort required: Four hours (self-paced)

Part 2: Individualised learning (self-paced)

Using the iLearn platform, course participants will be provided with a tailored learning journey to cover the skills and knowledge gaps identified in the diagnostic.

The following learning topics

  • Learning topic 1: Introduction to VAT and registration.
  • Learning topic 2: Output VAT.
  • Learning topic 3: Input VAT.
  • Learning topic 4: Adjustments (specifically change in use and bad debts).

Effort required: Dependant on results of diagnostic, a minimum of four hours and a maximum of 30 hours for all four learning topics.

Part 3: Workshop

Attend the venue-based practical workshop session (alternatively via webinar).

The workshop will focus on the following common pitfalls:

  • Registration as a vendor: Claiming the input VAT incurred before registration.
  • Principal vs agent:
    • Re-imbursements vs supplies.
    • Input vat on reimbursement of employee expenses e.g. cell phone and travel.
    • Issuing invoices as an agent.
    • Supplies between business divisions.
  • Effect of change in VAT rate:
    • Bad debts.
    • Unpaid creditors.
    • Overpayments.
    • De-registration of vendor.
    • Change of use of assets.
  • Deemed supplies:
    • Insurance pay-outs-what if you make zero rated supplies?
    • Company car vs pool vehicle.
  • Imports and exports:
    • Documentation required and by when.
    • Export of services –when to zero rate.
    • Export of second hand goods.
    • Correct disclosure on invoices.
  • Commercial accommodation:
    • What about Airbnb?
    • Which supplies are subject to 60% rule?
  • Output VAT:
    • What is the VAT on a deposit?
    • Finance lease vs instalment sale agreement.
    • Timing rules for fixed property.
  • Input VAT:
    • Can you claim on marketing events?
    • Employee business travel issues.
    • Apportionment: Are you claiming all input VAT you are entitled to?
    • Paperwork for input VAT on insurance premiums.
  • Dispute with SARS:
    • Correcting a VAT return already submitted.
    • Prescription.
    • Effect of incorrectly completed VAT return.

Step 4: Formative Assessment

During this step in the learning journey, course participants will be required to perform a number of simulated areas of the VAT return, online.

This will be marked in real time to provide feedback to course participants, and to indicate which areas course participants may still have gaps in.

At this time, course participants will be allowed to refer back to the learning topics in Step 2 to address your specific knowledge gaps.

Step 5: Assignment discussion (Webinar)

Attend a final webinar on the simulation where the lecturer will walk through how course participants should tackle the simulation.

Step 6: Assignment

Complete a formal integrated (real-life practical) simulation assignment.


Admission requirements

Experience in taxation of individuals and trusts are required. An NQF 6 in the field of tax or law is recommended.


Assessment and award of certificate

Successful candidates will receive a certificate of competence.

This short course certificate will secure 40 credits towards the NQF 6 Occupational Certificate: Tax Technician (NQF 6).


Flexible payment options

Payment option 1: Once-off payment


Total: R9 960.00 (incl. VAT).

Payment option 2: Debit order

Application fee (non-refundable): R 450.00 (incl. VAT).

Three instalments: R3 818.00 per month (incl. VAT).
Total: R11 454.00 (incl. VAT).


Payments and cancellations

  • All required minimum payments must be made by direct EFT or by credit card before the commencement of a course.
  • Kindly note that should debit order payment terms not be adhered to; legal action will be taken.
  • Proof of payment may be requested before access to the iLearn platform will be communicated, should your payment not reflect on The Tax Faculty’s bank account.
  • Only written notice of cancellation will be accepted.

Conditions

  • If the cancellation is requested more than 10 working days prior to the course, no cancellation fee will be applicable.
  • If the cancellation occurs less than 10 working days prior to the event a 100% cancellation fee will be applicable.
  • Students who register for a course and fail to attend will be held liable for the full course fee.
  • Course application fee is non-refundable.
  • CPD event delegates who book and fail to attend will be held liable for the full event fee.
  • The Tax Faculty’s liability in the case of a course being cancelled will be limited to a refund of the course fee.

For courses with a six-month (or longer) rollout the following will apply:

  • Should a cancellation be received within six weeks of the course start date, the student will still be liable for 50% of the semester cost.
  • Should the cancellation be received after six weeks of the course start date, the student will be liable for the full semester cost.
  • Students may defer during a six-month course to any other course with a rollout planned for longer than six months.
  • The course application fee is non-refundable.

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