Delayed VAT Refunds from SARS

13/08/2024

It has been a busy few months at SEG Attorneys Inc in respect VAT refund claims. We have attended to close to 30 new instructions since our last post, resulting in VAT refunds being paid to our clients amounting to just shy of R50 million rand.

During the completion of these instructions, we noticed on various matters that SARS had proceeded to pay the accrued interest together with the capital claims, which were previously referred to a committee for approval. This is good news for VAT vendors to the extent that the practices are applied to all vendors who have delayed refunds.

Should you have any delayed VAT refund claims and require assistance to expedite payment, kindly contact Luigi Gamberini on 062 013 6768 for a cost effective and speedy solution.

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30/12/2023

It has been a very quiet period on our social media. Not because of lack of instructions but rather the magnitude of instructions we have had to attend to.

We want to thank every client for each and every valued instruction throughout 2023. We will share more of our successes in the new year and also some of our ventures which may excite you such as interest claims on delayed refunds for a historical period of 5 years.

Blessed festive season and may 2024 be a prosperous year for you all

12/04/2023

VAT Refund instructions have been rather slow the last 2 months due to financial year ends and submission of provisional tax returns.

We have however received 2 new instructions - In the first instruction a refund was paid to our client after 6 days from service of our papers on SARS. The refund was for just over R500 000 and now we await payment of accrued interest for 2 VAT periods. Our estimations are that the client is to receive interest of approximately R150 000.

In the second instruction, our client's verification was converted to an audit the night before service of our papers. We assisted our client to respond to the audit letter and to provide SARS with sufficient information / documentation to finalise the audit with the prescribed 21 business day period. Our further updates to follow in this matter.