Tag Archives: value added tax

VAT Refund on Exported Goods - Q&A

VAT tax refund

How do VAT tax refunds work? A vendor is required to calculate their VAT liability, in relation to its allocated tax period. This is done by by off-setting input tax against output tax. The difference is either paid to SARS or a VAT tax refund is paid by SARS to the vendor If a vendor is entitled to a VAT tax refund, SARS is required to pay that VAT refund. It must be paid  within 21 business days of receiving the correctly completed VAT return…

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