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The one thing you need to claim a Vat refund

by , 06 October 2014
If you want to claim a Vat refund from SARS, you need to document it carefully. After all, SARS doesn't hand back money just because you say it owes you a Vat refund.

There's one particular document you need to ensure SARS can't dispute your Vat refund claim.

Read on to find out what it is so you never throw it away...


Here's the rule of claiming Vat refunds 

When you sell supplies, the Vat you charge on those products is output tax. When you buy supplies, the tax you pay on them is input tax.
Input tax is what you can claim back on your Vat refund. 
This means you need to get a particular document from your supplier that contains the amount you paid in Vat as well as the supplier's Vat registration number.
So what is this document? 
It's a tax invoice. 
Here's why you need it.
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SARS has put a few surprises in the new VAT return… And they could cost you your refund!
Something as simple as leaving a space instead of putting a zero in column 1A of the new VAT return could cost you your refund!

Here's why you need a tax invoice to claim a Vat refund

You need your tax invoice from your suppliers so you can correctly work out your input tax. The invoice (which is normally a basic receipt) also acts as your supporting document for your refund claim.
Once you have your invoice, you can claim your refund in two easy steps according to the Practical Vat Loose Leaf Service. These two steps are:
Calculating your Vat; then
Submiting your Vat return to SARS, through eFiling. 
Then you can scan in your tax invoice as a supporting document so SARS won't query your claim.
And if you want to get your refund back within 21 days, you need to accelerate it. You can find out how in the Vat Refund Accelerator

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