Use this five point Vat refund plan to claim every cent you can back from SARS
Claiming a Vat refund from SARS is the best way to optimise your company's cashflow. But SARS doesn't just give you a Vat refund because you ask nicely.
You have to follow the rules and prove you're entitled to claim that refund.
To ensure you do both of those things, use the checklist below so you can get your Vat refunds quickly and easily from SARS.
Get your Vat refund back quickly by following this five point plan
Use eFiling, because it captures your return immediately. SARS takes up to 14 days to capture manual returns and this will delay your refund. eFiling speeds up the process because it automatically syncs the information on your return with the information in SARS' system.
Don't wait until the 25th to file your Vat refund. Rather file your claim as soon as you can, after the end of your tax period. The sooner you submit your return, the sooner you can get your money back. Doing this also ensures you don't misplace any of the valuable documentation you need for your Vat refund.
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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!
Are you 100% sure you've covered all
Find out how you can avoid falling into the traps today!
Don't make any mistakes on the return. If you do, SARS will delay your refund and you'll have endless headaches trying to rectify it.
Make sure you submit all your Vat returns. SARS won't pay you a refund if you have outstanding returns.
Make sure your returns for all other taxes are up-to-date, including Customs, PAYE, SDL and UIF. If any of these returns are outstanding, you won't receive your refund.
Use this five point plan to ensure you stick to the Vat refund rules and get your refund back from SARS without any hassles.
There are five more things you can do to guarantee you get your refund back within 21 days. Check out the Vat Refund Accelerator
to find out what they are.
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