VAT Alert - Recapitulative Statements

As indicated in our newsletter published in April 2009, the introduction of the VAT package with effect from 1 January 2010 has resulted, inter alia, in a number of additional reporting obligations for businesses. These include additional details to be disclosed in the periodic VAT return and new forms to be submitted by persons registered in terms of article 12 of the VAT Act. Legal Notice 363 of 2009 furthermore extends the reporting requirements in recapitulative statements.

The purpose of this VAT alert is to highlight the new requirements arising from the said legal notice.