The VAT201 is the periodic return a VAT vendor files with SARS, declaring total output VAT charged on sales and total input VAT claimed on purchases for the period. The difference is the amount payable to SARS, or refundable if input exceeds output.
What it means
Filing periods are typically monthly or every two months, depending on the vendor's turnover category, and the return is submitted via SARS eFiling alongside the payment. Late or incorrect VAT201 submissions attract penalties and interest in the same way late EMP201 submissions do for payroll.
Where it fits in
The VAT201 reports a different tax base entirely from payroll's EMP201 - sales and purchases, not remuneration - but both are periodic SARS declarations a registered business must file on time.
Key rules
- Declares output VAT less input VAT for the period.
- Filed monthly or bi-monthly via SARS eFiling.
- The net result is payable to, or refundable from, SARS.
- A separate declaration from payroll's EMP201, on a different tax base.
