The Small Retailers VAT Package is a simpler VAT option for small retailers and has been created by SARS to assist small businesses. If you qualify for the Package it means that you can satisfy the VAT Act without keeping detailed records or having to buy expensive cash registers to keep track of sales on the various types of products you sell.

The Package also includes a free set of pre-printed books in which you keep track of the stock you buy and your daily sales.

Why Was the Small Retailers Package Introduced?

The package was introduced for three reasons. Firstly, to make it simpler for small retailers who are registered for VAT. Many small retailers find it difficult and time consuming to keep the detailed sales records required by the VAT Act. The Small Retailers VAT Package will make accounting for VAT much simpler for small retailers.

Secondly, to make it simpler for small retailers who are not registered for VAT to satisfy the law. All retailers who have a turnover of R1 000 000 or more per year must register for VAT. There are many small retailers who should register for VAT but do not because small retailers feel the process is too complicated and takes too much time. The Small Retailers VAT Package aims to encourage unregistered retailers to register for VAT.

Thirdly, to reduce VAT fraud.

Who Qualifies for the Small Retailers VAT Package?

If you are not registered for VAT you will first have to register before you can apply for the Small Retailers VAT Package.

If you are already registered for VAT you qualify for the Small Retailers VAT Package only if you satisfy the requirements to become an approved vendor.