The finalisation of verification and payment of refunds has improved significantly
this year with an encouraging 65% of respondents reporting that their VAT
verification gets finalised within 21 days after submitting documentation in support
of the VAT verification and fewer respondents experiencing a finalisation taking
more than six months. Respondents report that 82% ‘always’, ‘sometimes’ or ‘most
of the time’ get their VAT refund paid within 21 days. These results are encouraging
and show that SARS is trying to honour the one or more of the Nine Strategic
Objectives detailed in its Strategic Plan for 2020/21 – 2024/25.
Soruce: PwC
Latest Posts in "South Africa"
- SARS Updates VAT Zero-Rating Proof Rules for Going Concern Sales
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- South African Schools Exempt from VAT Under New Tax Reform
- SARS Issues VAT Ruling Clarifying Tax Exemption for Educational Services
- VAT Enterprise Registration Ruling for Applicant Before Commencing Taxable Supplies
