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Byline: LINDA ENSOR
SARS refund backlog for VAT stands at R1,7bn Political Correspondent CAPE TOWN The South African Revenue Service (SARS) had a backlog of R1,7bn in outstanding VAT refunds which were owing beyond the prescribed 21-day payment period, Finance Minister Pravin Gordhan said yesterday.
These refunds, representing 0,89% of the value of all VAT transactions in the 2010 financial year, were being subjected to audit and review, he said.
They were highest in the financing, insurance, real estate and business services sector (R401m); mining and quarrying (R292m); agencies and other services (R200m); public administration (R199m); and the retail …