VAT – HOW TO INPUT SINGLE PURCHASE DATA Taxmate to calculate VAT

This walks you through how to input purchase data into the system to calculate the VAT, and Levies. The input can be done on the screen one after the other (individually) or uploaded if the transactions are many. The purchase data forms the INPUT VAT component of the VAT return. The purchase data also provides the Withholding VAT if you are permitted to withhold VAT which is 7% from the payment being made to the Vendor(s).