As everyone knows VAT will increase from 14% to 15% on 1 April 2018.  Basically, this means that from 1 April 2018 all taxable goods or services are subject to 15% VAT.  Goods entered for home consumption on or after 1 April 2018 will be subjected to the higher VAT rate.  Invoices issued by clearing agents for services rendered must also reflect the correct rate.  The ‘correct rate’ depends on the time of supply i.e. date on which the transaction is deemed to have occurred in terms of the VAT Act. Generally this would be the earlier of the date invoiced or date payment is received. There are exceptions.

Import VAT will be calculated at the rate of 15% on all goods entered on or after 1 April 2018.

If in any doubt, clearing agents, importers and the like are urged to review the FAQ’s on the SARS website relating to the VAT increase.”