If you are a South African business, we understand how VAT can get confusing and how it can affect your company’s cashflow if not done correctly.
Many businesses forfeit their VAT savings because their supplier or vendor invoices are not complaint with the South African Revenue Services (SARS) requirements. Not having the right professionals handling your VAT matters can cost you big time, and after a couple of years this can accumulate to millions in losses.
Besides unclaimed VAT, your company claims may be disallowed by SARS for avoidable mistakes such as a missing VAT number or address.
MaxProf gives a few tips of how your business can avoid classic TAX invoice mistakes. Refer to the example below.
It does not end there; more can be done ensure that we maximise your profits. MaxProf offers Accounts Payable services which include the following areas to be investigated: