April 2018 VAT Increase Letter

Notice of April 2018 VAT Increase         April BTW Verhogingskennisgewing

Dear Agricon Client,

Finance Minister Malusi Gigaba delivered his National Budget address on 21 February 2018 in which he announced that South Africa will see a VAT rate increase for the first time in 25 years. As of 1 April 2018, the effective VAT rate will rise from 14% to 15%.

How does it apply to your business with Agricon?

All unpaid invoices after 31 March 2018 will have to be amended accordingly. Where invoices have already been issued for orders delivered after 31 March 2018, we will issue new invoices.

We realise that this involves more paperwork, but it will ensure that both you and we comply with the Act as responsible corporate citizens and to sound corporate governance, establish an effective audit trail and, most of all, provide a chronological sequence of events for SARS should they audit the transactions.

Thanking you in advance for your understanding and assistance.

 

Beste Agricon kliente,

Malusi Gigaba, die Minister van Finansies, het op 21 Februarie 2018 met sy nasionale intreebegrotingstoespraak aangekondig dat Suid-Afrika vir die eerste keer in 25 jaar ‘n verhoging in BTW gaan hê. Vanaf 1 April 2018 sal die BTW-koers van 14% tot 15% styg.

Wat beteken dit vir Agricon kliente?

Alle fakture wat nog nie betaal en gelewer is ná 31 Maart 2018 sal dienooreenkomstig aangepas moet word. Waar fakture reeds uitgemaak is vir betaling ná 31 Maart 2018, sal ons nuwe fakture moet uitmaak.

Ons besef dat dit meer papierwerk beteken, maar dit sal beteken dat albei partye aan die Wet voldoen as verantwoordelike, korporatiewe burgers en sal sorg vir gesonde, korporatiewe regering, die vestiging van ‘n doeltreffende ouditspoor en veral ‘n chronologiese reeks gebeure vir SARS/SAID indien hulle die transaksies oudit.

By voorbaat dankie vir u begrip en bystand.

 

Kind Regards / Vriendelike groete,

Johan Eksteen en die Agricon Bemarkingspan

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