SAQA

All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.

SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE:

Perform Value Added Tax calculations and complete returns

SAQA US ID	UNIT STANDARD TITLE
114735	Perform Value Added Tax calculations and complete returns
ORIGINATOR
SGB GET & FET Business, Commerce and Mngment Stud
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-
FIELD			SUBFIELD
Field 03 - Business, Commerce and Management Studies			Finance, Economics and Accounting
ABET BAND	UNIT STANDARD TYPE	PRE-2009 NQF LEVEL	NQF LEVEL	CREDITS
Undefined	Regular	Level 4	NQF Level 04	5
REGISTRATION STATUS		REGISTRATION START DATE	REGISTRATION END DATE	SAQA DECISION NUMBER
Passed the End Date - Status was "Reregistered"		2018-07-01	2023-06-30	SAQA 06120/18
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2024-06-30		2027-06-30

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.

This unit standard does not replace any other unit standard and is not replaced by any other unit standard.

PURPOSE OF THE UNIT STANDARD

This Unit Standard is for people who are responsible for controlling the finances of a small business or who are responsible for the bookkeeping aspect of financial management in larger organisations.

On completion of this Unit standard, learners will be able to calculate VAT and prepare VAT returns.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 3.

UNIT STANDARD RANGE

A person may exhibit this competence in the private and/or the public sector.

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1

Understand and apply the current rules and rates of VAT.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

The reasons behind the introduction of VAT are understood and explained orally.

ASSESSMENT CRITERION 2

The effect of VAT on small businesses, customers and the country is explained using examples that illustrate the advantages and disadvantages.

ASSESSMENT CRITERION 3

The rules and rates relating to VAT are applied to the transactions of a small business.

SPECIFIC OUTCOME 2

Calculate Value Added Tax.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

VAT output and input tax is calculated in accordance with current VAT rules from gross figures.

ASSESSMENT CRITERION 2

VAT procedures are applied to cash discounts and trade discounts.

ASSESSMENT CRITERION 3

Invoices are produced using VAT calculations correctly.

SPECIFIC OUTCOME 3

Set up and maintain VAT records.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

VAT transactions are recorded and kept according to organisational and bookkeeping practice.

ASSESSMENT CRITERION 2

Adequate and accurate sources of information is obtained for the completion of VAT returns.

SPECIFIC OUTCOME 4

Complete VAT returns for both cash and credit transactions.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

VAT returns are completed using the records of VAT transactions to calculate the necessary entries.

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA,or an ETQA that has a Memorandum of Understanding with the relevant ETQA.

Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA

Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA

Moderation of assessment will be conducted by the relevant ETQA at its discretion.

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE

N/A

UNIT STANDARD DEVELOPMENTAL OUTCOME

N/A

UNIT STANDARD LINKAGES

N/A

Critical Cross-field Outcomes (CCFO):

UNIT STANDARD CCFO IDENTIFYING

Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made.

UNIT STANDARD CCFO ORGANISING

Organise and manage oneself and one's activities responsibly and effectively.

UNIT STANDARD CCFO COLLECTING

Collect, organise and critically evaluate information.

UNIT STANDARD CCFO COMMUNICATING

Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations.

UNIT STANDARD CCFO SCIENCE

Use science and technology effectively and critically (showing responsibility towards the environment and health of others).

UNIT STANDARD CCFO DEMONSTRATING

Demonstrate an understanding of the world as a set of related systems.

UNIT STANDARD CCFO CONTRIBUTING

Be culturally and aesthetically sensitive across a range of social contexts.

UNIT STANDARD ASSESSOR CRITERIA

N/A

REREGISTRATION HISTORY

As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015.

UNIT STANDARD NOTES

N/A

QUALIFICATIONS UTILISING THIS UNIT STANDARD:

	ID	QUALIFICATION TITLE	PRE-2009 NQF LEVEL	NQF LEVEL	STATUS	END DATE	PRIMARY OR DELEGATED QA FUNCTIONARY
Core	58375	National Certificate: Bookkeeping	Level 3	NQF Level 03	Passed the End Date - Status was "Reregistered"	2023-06-30	FASSET
Core	48736	National Certificate: Small Business Financial Management	Level 4	NQF Level 04	Passed the End Date - Status was "Reregistered"	2023-06-30	FASSET
Elective	58376	Further Education and Training Certificate: Bookkeeping	Level 4	NQF Level 04	Passed the End Date - Status was "Reregistered"	2023-06-30	FASSET

PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD:

This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.

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