Tourists! Get your VAT back

Value Added Tax, or VAT as it is commonly known, is charged on most goods, or services, purchased in South Africa. This is presently set at 14%. Foreigners must also pay this tax. However, they claim it back on items which leave the country with them.

In order therefore to claim your VAT back, you will need a tax invoice for the goods which you have purchased.

A proper tax invoice will comprise the following information: the words “tax invoice” displayed prominently, the date of issue of the tax invoice, reflect the seller’s name, address, VAT registration number (a ten digit number starting with the digit ‘4’), invoice number, a description of the goods purchased and the costs of the goods purchased with the VAT reflected separately; or inclusive with a statement that the price includes VAT.

Always therefore insist on a proper tax invoice when making your purchases.

Smile! You’re on candid camera

You and your car just had an early Xmas photo shoot on our beautiful roads – by the traffic authorities! Judging by the hollow feeling in your stomach, you just know that you will not be receiving good news from the City in a short while.

What do you do to ensure that all not Xmas cheer is sucked out of your soul? Read more

Challenge your credit record.

Some things in life are indeed free.  South African consumers are entitled to one free credit report each year. This is obviously only your own credit report. If you feel that your report is in any way inaccurate, then this is what you should do:

1. Contact the credit bureau concerned and raise an objection or lodge a complaint. The major credit bureaux are TransUnion ITC or Experian;
2. Once your objection or complaint has been lodged, the relevant credit bureau then has 20 days in which to resolve your issue;
3. If it is not able to do so, you may then refer the matter to the Credit Information Ombudsman;
4. Should the ombudsman not be able to resolve the matter, the National Credit Regulator will intervene on the request of the ombudsman.

Some useful contacts: TransUnion ITC ( 0861 482 482); Experian (0861 105 665)