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14.03.2018

VAT rate change from 14% to 15%

By Achmat Kazie, March 14, 2018

Business Development Director at Rise SA Business Solutions

For a demo or queries, phone 082 711 8518 or email to akazie@risebiz.co.za



Budget 2018


Finance Minister Malusi Gigaba today announced that the VAT will increase from 14% to 15%. This is the first time the VAT rate has changed since 1993. How will this impact you?



1C applications like Rise Accounting and 1C:Drive are easily customisable by the end user. Unlike some systems where the VAT rate is hard-coded, 1C applications has a VAT rate that can be adjusted as the need arises.



Even though the VAT rate has been constant for 25 years, it has never been a fixed rate and should not be programmed as such. Any variable rate such as tax rates, VAT and even exchange rates should be kept as a variable rate in the application. As Rise SA Business Solutions develop our own solutions based on 1C, all  our applications allow for changing of variable rates by the end user without the need to pay developers to recode the application.



If your accounting and business management solution is not up to standard, contact us to find out more about our applications and services.

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