Barter income is treated the same as cash income. There are no tax advantages or disadvantages to bartering.

When you make a sale on barter, you should issue the buyer with a VAT invoice in the same way as you do in a cash sale and vice versa when you make a purchase you should request a VAT invoice from the seller.

Your accountant will be able to provide the best accounting methods suitable to your type of business.

Barter trading should be considered a marketing tool, not a tax tool. BizEX provides your company with a statement at the end of each month for all of the sales and purchases you have made within our network.

Cash purchases that are normally tax deductible as business expenses are also tax deductible when purchased on Barter.

For taxation purposes, one Trade Rand (TR1) is considered to be equal to one Rand (R1). For the purposes of any tax laws, payments such as VAT, income tax and PAYE must be remitted to SARS in Rands.

As the third party record keeper, BizEX has a legal obligation to provide information, upon request, concerning members' trading activity to any government department.

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