The 4 Step Approach to VAT Accuracy & VAT Assurance

 

Most data management tools allow organisations to pull data from almost any source into a centralised repository for further analysis. However, it must be noted that data accuracy is key. Those with unreliable master data will almost always find that their insights are unreliable or questionable and when this same data is used for submitting the VAT201 to SARS, could result in heavy fines and penalties being levied for non-compliance. Taking a data-driven approach to VAT compliance and VAT accuracy doesn’t need to be complicated or disruptive to implement.

In this video, Philip Tillman, Managing Director at VATSURE will discuss:

  • The VAT maturity scale
  • VAT management challenges
  • ERP set-up and master data, and how it affects VAT data
  • How to convert source data to trustworthy VAT data
  • Where to start with VAT risk and control analytics
  • How to check if a vendor VAT number is valid
  • Why is accurate & timely submission of the VAT201 to SARS important