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Can my VAT liability be back dated?

Posted 22 May 2016

Korrect says:
22 May 2016 at 9:19

I run an events company and should have registered for VAT a long time ago, but am only doing so now. On completing the registration form, they will see that my company has been operating for a couple of years now, some of which, my turnover has been over the threshold. My question is: Will SARS investigate my prior years financial turnover? What will happen if they do investigate my prior year finances?

TaxTim TaxTim says:
22 May 2016 at 22:01

SARS will go through and make this determination. In some instances they do not look backwards, but it depends on how long that has been going on for.

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