Set the VAT Rate to apply on VAT registered entities

In order for VAT to apply to VAT registered Brokerages/Distributors/Financial Service Providers, the configuration needs to be set up with the VAT rate.

System>- Configuration>- Countries, go to the relevant country that the VAT is applicable to

Update the required VAT rate and save

The VAT rate will apply to all VAT Registered Contracts, where their Registered country is South Africa (the country which the VAT rate was loaded)

VAT Registered Entities

This can be checked on the Company Details Card>- More details>- Tax Details

Also see, VAT on Fees

Last Updated on 2 weeks ago by Debra Hart