Authored by Viwe Mkhiva, MaxProf Auditor
Overview
At MaxProf, we pride ourselves on having a team of highly skilled Professional Accountants (SA), accredited by the South African Institute of Professional Accountants (SAIPA). Unlike traditional accountants who primarily focus on financial statement preparation, a Professional Accountant (SA) serves as a comprehensive consultant and advisor, actively contributing to an organisation’s decision-making processes.
Key Roles of a Professional Accountant (SA)
- Consultant
- Business Advisor
- Organisational Manager
- Accountant
- Financial Manager
- Tax Advisor
Our Professional Accountants specialise in Value-Added Tax (VAT) services for both private and public sector client and are also registered Tax Practitioners.
The revised Code of Ethics for Professional Accountants ensures adherence to fundamental principles, including:
- Integrity
- Objectivity
- Professional Competence and Due Care
- Confidentiality
- Professional Behaviour
Combining these principles with technical expertise, our accountants deliver exceptional quality in VAT compliance and consulting, adding measurable value to our client’s processes.
Expertise in Value-Added Tax (VAT)
MaxProf’s Professional Accountants (SA) offer over eight years of experience, particularly in the public sector, ensuring excellence, diligence, and unmatched attention to detail. Our VAT services are designed to retain public trust while maximising profit recovery for clients.
Comprehensive VAT Services Include:
- Conducting full VAT audits for applicable financial years.
- Managing on-site audits to gather essential documents, including VAT201 returns, Annual Financial Statements (AFS), SARS Statements of Account, and correspondence.
- Reconciling input and output VAT accounts with VAT201 submissions to SARS.
- Investigating discrepancies in VAT allocations on both expenses (input VAT) and income (output VAT).
- Calculating and applying revised apportionment ratios.
- Preparing monthly and year-end VAT journals and reconciliations to ensure alignment with General Ledger/Trial Balances.
- Calculating and submitting monthly VAT201 forms to SARS.
By employing our services, clients can ensure compliance, accuracy, and optimised VAT processes.
Commitment to Continuous Professional Development (CPD)
In a rapidly evolving industry, staying updated on legislative changes – such as amendments to the Tax Administration Act, VAT Act, and other relevant regulations – is crucial. At MaxProf, we foster a culture of continuous learning to ensure our team remains at the forefront of industry standards.
CPD Benefits for Our Accountants
- Staying updated with the latest VAT laws and regulations.
- Acquiring new skills to meet evolving compliance and governance demands.
- Enhancing credibility, transparency, and accountability in client engagements.
- Improving professional capacity and competence through targeted upskilling.
Through ongoing CPD, our team ensures that clients receive expert guidance aligned with the latest tax regulations.
Why Choose MaxProf for VAT Expertise?
Partnering with MaxProf means working with Professional Accountants (SA) who deliver:
- Unparalleled expertise in VAT processes.
- A track record of success in both private and public sectors.
- A commitment to excellence, ethical conduct, and client satisfaction.
Let us help you navigate the complexities of VAT with precision and confidence.
Contact MaxProf today to learn how we can support your VAT needs and improve your organisation’s financial processes.
