South Africa on Real Time Reporting of VAT Invoice

Since South Africa (SARS) has been intending and modernizing its current VAT system, SARS has published the Discussion Paper on 8 September, 2023.  According to the Discussion Paper; The VAT data and received payments processed in the accounting data system will be transmitted on a near- real time (RTR) basis to SARS. For pre-filling VAT returns, the RTR transaction report will be used  and before the due date, taxpayers will be required to report VAT data for VAT return purposes. It is planned that the implementation of digital VAT data transmission will take over the period of 5 years.


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