'SARS is constantly on the lookout for Vat evaders and those vendors who may have made mistakes in their Vat returns,' warns the Practical Vat Loose Leaf Service.
When you've made a mistake, SARS will send you a letter as we've mentioned.
Here's what you must do when SARS sends you a letter regarding your Vat returns
The Loose Leaf Service explains that the SARS computer automatically sends out email queries where it detects variances in the output or input tax declared.
So if there's a justifiable reason for the variances, email that information and any applicable documents to SARS as soon as possible.
If you can't find a mistake, you must send SARS your output (sales) and input (purchases) schedules.
SARS needs the following minimum information from you on output tax schedule:
And it'll require you to submit the following minimum information when it comes to the input schedule:
Once you've done that, you must them submit the info in an A4 format via any one of the following three channels:
Here's how to avoid receiving a 'Dear Vendor' letter from SARS
Before you send your VAT201 to SARS, double check for mistakes and establish why there are variances – if any.
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