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When SARS does an announced Vat audit on your company it will take these four steps

by , 12 November 2014
There are two types of Vat audits SARS can do: Announced and unannounced ones. If SARS does an announced Vat audit on your company, it will tell you it's going to audit you.

This way, you can at least prepare your documents.

To help you thoroughly prepare for your announced Vat audit, here are the four steps SARS will take during this process...


Four steps SARS will follow when it does an announced Vat audit on your company

Step #1: SARS will make an appointment 
SARS must make an appointment to meet with you. It must contact you at least ten working days before it starts the audit. 
When it makes the appointment, SARS must also tell you where it wants to carry out the audit and the date and time it would like to start (it must be during business hours!). 
SARS must say what it wants to look at (scope of audit). But remember if SARS sees you're not compliant in other tax areas, it can extend this scope.
Step #2: SARS will ask you to give the auditors reasonable assistance
Get your documents ready. If SARS holds the audit at your business premises, you're obliged to give reasonable assistance as SARS needs it.
*********** Reader's choice  ***************
I'd like to tell you how I saved R75 327 in Vat this year. No tricks. No evasion. Just two little things I didn't know I could claim.
By reading this letter, it will tell you how to avoid costly Vat mistakes, save you money, time and be your CEOs favourite person when you save the company R1 000s of Rands in Vat refunds this year.
Step #3: SARS will ask you particular questions but you don't have to give verbal answers 
You have answer SARS' questions. But your answers don't need to be verbal. Tell SARS you're willing to answer questions, but it must put the questions in writing. Instruct your staff not to give verbal answers either.   
Step #4: SARS has 21 business days to complete refunds and audits
If the audit is for a refund you claimed, check SARS makes the refund within 21 business days! Yes, SARS must complete the audit, any checks and other balances, within those 21 days. 
If SARS doesn't, write them a letter on day 22 and claim interest it must pay. 
Now that you know what steps SARS will take, ensure you prepare for the audit and make sure SARS sticks to the rules.
For more on Vat audit, check out the Practical Vat Loose Leaf Service

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