- SARS may not automatically pay the full VAT refund amount, including interest, to South African taxpayers.
- Delays in VAT refunds beyond 21 business days are subject to interest, but this is not always calculated or paid out by SARS.
- Taxpayers often overlook the interest owed and focus only on receiving the delayed refund.
- Exceptions to interest payments include defective/incomplete returns, banking issues, or unverifiable refunds.
- VAT-registered businesses and individuals should review their statements to ensure interest is paid and challenge SARS if necessary.
Source: dailyinvestor.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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