- The South African Revenue Service (SARS) has introduced functionality to issue estimated assessments for value added tax (VAT) in specific circumstances.
- Estimated assessments will be issued to vendors in the form of a VAT217 notice.
- Vendors will not be able to request a correction of the VAT return if an estimated assessment has been raised for a specific tax period.
- Vendors cannot dispute the estimated assessment issued under the normal dispute resolution process, but they can submit relevant supporting documentation within 40 business days to challenge it.
- If SARS issues a revised assessment after documentation submission, it can be subject to objection or appeal.
- Vendors can request the suspension of payment due for the estimated assessment.
Source: kpmg.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.
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