Question NW852 to the Minister of Finance
02 June 2020 - NW852
Hill-Lewis, Mr GG to ask the Minister of Finance
What (a) number of applications have been received for the fast-tracking of value-added tax refunds to date in each province, (b) number of the specified applications have been approved in each province and (c) was the Rand value of each approved application in each province?
Reply:
(a)(b)(c) The president announced that SARS will fast track VAT refunds and we have not received any specific requests for such.
SARS has since made amendments in terms of the number of returns that we can expect in a specific cycle to allow vendors qualifying for refunds to submit a return monthly instead of every two months thus enabling a quicker waiting period for refunds.
The turnaround time for refunds compared to same period last year has decreased by 4.4 days.