FIA: How will the VAT increase affect the way we do business?

The increase in VAT from 14% to 15% on 1 April 2018 will have a significant impact on the flow of money in the intermediated insurance market, from premiums to commissions to claims and beyond!

The SAIA/FIA VAT Workgroup has compiled a list of frequently asked questions (see downloads below) that will help you to understand some of the technicalities involved in the VAT increase in your business.

If you have any questions that are not on the list below, please contact us on questions@fia.org.za or 012 665 0085.

Downloads (click to download)

• Public announcement – SAIA and FIA Announcement VAT rate increase

• General communication to policyholders

• Public FAQs – VAT rate change Public FAQ
  
  

First published on the FIA Blog.