How do you calculate VAT in South Africa?

Answer 1

Take amount ex. R100 + 14%= R114

Take the amount including vat is this case R114

R114 x 100

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114

= R100 so Vat is R14

R256.00 x 100

------------------

114

= R224.56 so Vat is R31.44

or

R256.00 x 14

-----------------

114

= R31.44

Answer 2

Every time a purchase is made the VAT amount is calculated and paid by the buyer irrespective of the tax status of the individual.

In cases where it is a commercial purchase the buyer will receive a VAT invoice form the seller (provided the seller is resisted as a VAT vendor with the tax authorities). The buyer will then offset the VAT portion of the purchase from the VAT to be paid over in respect of the sales on which VAT were raised.

If it is a consumer purchase or an entity or individual not resisted as a VAT vendor with the tax authorities no vat can be raised and no vat invoice issued.

Answer 3

It is currently 14%, as of February 2018. If the price of the item was in cell A3 and the VAT rate in B2, and you needed it to do it for the A3 and cells below it, then enter the following formula in B3 and copy down:

=A3 * B$2

Answer 4

VAT, and all other taxes are collected by the South African Revenue Services (SARS)

Answer 5

14%

Answer 6

14%