- SARS will issue estimated assessments for taxpayers who miss the deadline for VAT returns
- Taxpayers cannot request corrections for the same period once the estimated assessment is issued
- Taxpayers have 40 business days to provide supporting documents if they disagree with the estimated assessment
- Taxpayers can ask for an extension if they cannot submit documents within the specified period
- If taxpayers fail to submit requested documents before the deadline, SARS will automatically issue the estimated assessment
- Taxpayers have a second deadline of 40 business days to ask for a reduced assessment
- Taxpayers can object and appeal the estimated assessment if SARS refuses to amend it
- The ambiguity of SARS’ notice allows taxpayers to object if necessary documents are provided and SARS refuses to review the assessment
- Tax vendors should pay attention to timelines and request extensions if needed
- The purpose of the VAT estimated assessment process is to improve compliance with SARS requests.
Source: africataxreview.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
