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  • Accounting,  VAT

    How does a VAT audit work??

    If you have ever had a VAT audit and wondered what it entails. VAT returns should be submitted every 2 months. And every month for companies with a turnover of more than R50m a year. SARS will notify you if your VAT201 return has been selected for a VAT audit. This notification is done as soon as the return is submitted. The next step is then to submit a detailed calculation of your VAT amount payable to SARS. They will then go through this information. If they need more information, they will give you a call to request it. This is usually done to verify that the expenses claimed are…

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