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"
- South Africa Raises VAT Registration Thresholds in 2026/2027 Budget Proposals
- South Africa’s Transition to E-Invoicing and Digital VAT Reporting: Plans, Timeline, and Objectives
- SCA Clarifies “Enterprise” Scope Under VAT Act: SARS v Woolworths Holdings Ltd Explained
- South Africa to Launch Real-Time VAT Compliance with E-Invoicing by 2028, Says SARS
- South Africa to Mandate E-Invoicing and Real-Time VAT Reporting by 2028
