How does VAT work in South Africa?

0:24 What is VAT? 1:56 Two Classifications of VAT 2:30 When do you register for VAT? 2:39 Compulsory VAT Registration 3:11 Voluntary VAT Registration 3:44 What happens if you fail to register for VAT? 4:07 What are the benefits of being VAT registered? 5:20 How do I register for VAT? 5:52 What do I need to do once registered for VAT? 7:54 How to get VAT Refunds?