DStv Channel 403 Saturday, 16 November 2024

SARS to crack down on VAT fraud

JOHANNESBURG - The South African Revenue Service has introduced a stricter process in the VAT registration for small businesses.

SARS says the new rules are aimed at combatting a recent rise in scams.

The Revenue Service says it believes large numbers of registrations are being conducted with an eye to committing fraud.

READ: How changes to VAT affect compliance among small firms

All applicants are now required to submit documents in person.

Appointments will also have to be pre-booked on the SARS website.

Some tax experts say the new rules are archaic and will hurt small businesses by delaying the issuing of VAT numbers.

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