n IMFO : Official Journal of the Institute of Municipal Finance Officers - VAT : managing the risks

Volume 6, Issue 1
  • ISSN : 1607-520X



Extracted from text ... Managing the risks Municipal managers may be well advised to prioritise reviewing the administration of Value-Added Tax ("VAT") within their organisations as part of their broader risk management strategy. The perception that South African Revenue Service ("SARS") may be inclined to turn a blind eye to noncompliance within local government is disappearing fast. SARS is under increasing pressure to meet revenue collection targets and it is only to be expected that it will focus its attention on those industries where the perceived VAT leakage is the biggest. Some of the most complex VAT rules apply within organisations such as ..

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