South Africa VAT measures for coronavirus
- Nov 12, 2020 | Richard Asquith
12 Nov - will allow accelerated Value Added Tax credits (where taxpayer is owed VAT refund from government at the end of the reporting period) for small enterprises.
7 May - is considering allowing small taxpayers to switch to monthly VAT returns to help with speedy refunds.
23 April - South Africa has announced a second round of support and reliefs for businesses during the COVID-19 crisis. This latest round includes Value Added Tax measures.
Phase 1 in March focused on mitigating the first effects of the epidemic, including some tax breaks. Phase 2, announced on 21 April, focuses on stabilising the economy, with a emphasis on preventing job losses. This includes many payroll tax reliefs for smaller businesses.
For VAT, the Ministry of Finance has committed to speedy VAT refunds. For smaller businesses, this can include switching to monthly returns for fast credit repayments. There are no changes to VAT filings deadlines or payment obligations.
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