25 July 2024- The South African Revenue Service (SARS) has noted the challenges with respect to refund reversal on some of the accounts of taxpayers. Since the beginning of the Filing Season, SARS has paid out in excess of R14 Billion to 1.5 million taxpayers. The information at SARS’ disposal indicate that 30 thousand taxpayers have witnessed reversal of their refunds.
Due to the risk associated with validity of refunds payments, all refunds go through the validation process with all stakeholders in the tax ecosystem. These validations could result in refunds being flagged for verification.
SARS has worked through these reversed refunds, and we are happy to report back that 90% of all refunds have been released. By Monday morning, any remaining refunds will either be released, or taxpayers will be engaged to provide supporting documents where necessary. These are the normal processes in the validations of refunds. Notwithstanding the above challenges, SARS has in line with its earlier commitment paid out 83% of all refunds within 72 hours.
SARS sincerely apologises to all taxpayers for the inconvenience caused in this validation process.
For further information, please SARS at [email protected].
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