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Byline: Valdi Strauss
DUES DATE SA steers clear of complexity of VAT grouping The effect of VAT grouping is to treat all the members of a group of companies as a single vendor THE concept of grouping is more common in corporate income tax but is also used in some foreign value-added tax (VAT) jurisdictions. The effect of VAT grouping is to treat all the members of a group of companies as a single vendor. Instead of requiring each company in a group to submit VAT returns individually, VAT grouping allows for only one return to be submitted for the group of companies. The group VAT return then discloses output tax and input tax in respect of transactions or supplies between VAT group members and non-members. The VAT return would also cater for certain inter-group adjustments.
Members of the VAT group would appoint a representative member who assumes the responsibility to prepare and submit the VAT return. Where …