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Vat Assessment

  • How one fatal mistake by SARS saved AB Pty Ltd R32 million
  • If you under-declare your income, SARS will hit you with a laundry list of penalties, fines and interest. AB Pty Ltd got first-hand experience of this when SARS raised R69 million in penalties and interest! But, there was something SARS didn't do which made part of the penalty fall away. Let's look at this case and how AB Pty Ltd got away with some of the penalties SARS imposed. ************... ››› more
  • [31 January 2017]
  • The eight instances you can lodge an objection with SARS and win!
  • Here's a true story with a happy ending: I had coffee with Peter Franck, Contributor of the Practical VAT Handbook, and he told me an interesting story about one of his clients, Mr Hogenboezem*. He received a VAT assessment for R86 000 from SARS. SARS issued him with this assessment because he mistakenly claimed input tax twice on a bakkie and the invoices he received for purchases were techni... ››› more
  • [11 January 2017]
  • Can SARS validly deliver an assessment to you via eFiling?
  • If you're like me, you probably think the answer to the question is 'yes'. Probably because you've received a SARS assessment in this way before. But have you ever just happened to find out by chance, that SARS issued an assessment to you via eFiling? And by the time you see it, you're passed the 30 day period to object. Well, I have good news for you. Just recently, as I was talking to Ala... ››› more
  • [27 October 2016]
  • An introduction to the SARS objection and appeal process
  • Has SARS aggrieved you with an income tax, or Vat assessment? If so, you probably already know you're entitled to note an objection against that assessment. But did you know, the Tax Administration Act recently introduced new steps and stages, in the objection and appeal process? You're now also entitled to object to certain decisions SARS makes (Tax Administration Act, Act Number 28 of 2011). ... ››› more
  • [03 September 2015]
  • When SARS disallows your objection, appeal the decision!
  • I recently wrote to you about when and how you can object to a SARS assessment. But I know from experience, that often times, SARS disallows Vat vendors' objections. Well, if you've received a notice from SARS that it's disallowed your objection, you can appeal this if you don't agree. So today I'm going to tell you what you need to do when SARS disallows your objection. But first, h... ››› more
  • [02 September 2015]
  • Five instances when you can lodge an objection against SARS
  • Because Vat is a self-assessment system, SARS has to carry out audits on your returns. It wants to make sure you've correctly calculated your Vat liability. And it wants to verify if you indeed owe SARS Vat, or it owes you the amount you calculated. If SARS believes you've made a mistake, or it makes an assumption on your return, this changes your figures on the Vat return. You have a right... ››› more
  • [27 August 2015]
  • How to lodge an objection with SARS - it can save you money
  • Has SARS just carried out an assessment on your company? Do you have to pay more tax than you thought you had to? Why not object to your assessment? You could end up paying less tax. Let's see what you must do to lodge your objection. **********Recommended for you********** Has SARS taken ages to respond to your objection?   Did you know SARS must respond to your objection in 60 days? ... ››› more
  • [20 August 2015]
  • Lodge your objection against SARS' assessment with this free sample letter!
  • So SARS has issued you with an assessment, but you don't agree with it. You can object to the assessment by filling out the Notice of Objection form (NOO) for all taxes, or the ADR1 form for Vat. And here's a sample letter you can use to complete your objection. **********News flash: Pretoria East Motors' assessment reduced from R5 million to R1 million**********   SARS raised an assessm... ››› more
  • [17 August 2015]

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