However, this does not mean a blanket increase to 15% on 1 April 2018, the position is more complex than that.
To illustrate, consider metro accounts, which may be metered on 20 March 2018, but only billed after 1 April 2018. Obviously, a more involved position will obtain in this case.
Or, an invoice issued before 1 April 2018 with 14% VAT, with reversals after that date. The VAT is transaction specific, and in the event of a reversal will be at 14% even after 1 April 2018.
At the moment, we are still awaiting further guidelines from SARS.
Please follow the links below for guidelines currently available.
SARS
General information
The Pocket Guide
The Frequently Asked Questions (FAQ)
Adminfix