SARS notes a suspicious rise in VAT registrations.
VAAL TRIANGLE - The South African Revenue Service has identified a suspicious rise in VAT registrations by vendors and conducted an urgent review of its registration process. Commissioner Edward Kieswetter suspects many of these registrations are being created with the intent to defraud SARS and taxpayers. Following the observations, SARS will implement several measures immediately and pursue criminal charges against the perpetrators. In 2022/23, SARS paid out a record R381-billion in refunds, of which R319-billion was for VAT refunds.