Frequently Asked Questions: Domestic Reverse Charge Regulations
SARS has released an updated list of Frequently Asked Questions relating to the VAT domestic reverse charge.
The Frequently Asked Questions (“FAQs”) is a document that has been compiled on the basis of questions that vendors and the public at large have or are likely to have about the implications of the domestic reverse charge (“DRC”) regulations.
The FAQs on DRC can be found here.
The commencement date of the DRC Regulations was 1 July 2022 and a transition period of one month from 1 July 2022 was allowed for affected vendors to ensure that they make the necessary adjustments to invoicing, accounting systems and other requirements under the DRC Regulations.
In light of the invoicing and system practicalities and the circumstances prevailing, the DRC Regulations will apply to all valuable metal supplies from 1 August 2022. All affected vendors are required to have their systems updated by this date.
For additional guidance, please refer to the VAT DRC landing webpage here.
03/08/2022
Contacts