![]() ![]() In the discussion concerning the setup of the accounting system, it is stated that the VAT Act read with the Tax Administration Act (“TAA”) require that a vendor should ensure that the information obtained, and the process being followed ensures that a full and true return containing all the material facts is submitted by a person that has knowledge or awareness of the statements made in the VAT return. A well-performed VAT health review normally provided some comfort. In other words, whether the reports can be counted on to provide the relevant or required valid information to disclose in the correct field of the VAT declaration. It is always an open question whether the person submitting the return is aware of what the reports used for the completion of the VAT return are actually indicating. Thereafter, following the often painful process of obtaining the refund. The consequences may consist of a bank payment authorization and the collection of the required proof of payment.Īlternatively, in the case of a refund, undergoing the standard SARS validation process by submitting the required information to SARS. In general, the person submitting the declaration is aware of the process concerning the submission. ![]() The submission of a VAT 201 declaration (VAT return or VAT 201) is an action that must not be taken lightly.Įxperience has indicated that the submission of VAT returns, is generally, an autonomous process where last month’s process is repeated.
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