can I claim prior period input VAT erroneously not claimed? And for how long
can I still claim it, because my returns are almost a year.
Though s16(3) VAT requires deduction of input VAT in respect of supplies made
in that period, proviso (i) to this section provides that any amount of input
tax which was deductible and has not so been deducted may deducted in a
following period but limited to a tax period 5 years after which the tax
invoice for the supply should have been issued. You will therefore be entitled
to claim the input tax on qualifying supplies even after 1 year has elapsed in
any period prior to the end of the 5 years by adding it to your input tax
claims for that future period.
Disclaimer: Nothing in this query and answer should be construed as
constituting tax advice or a tax opinion. An expert should be consulted for
advice based on the facts and circumstances of each transaction/case. Even
though great care has been taken to ensure the accuracy of the answer, SAIT do
not accept any responsibility for consequences of decisions taken based on this
query and answer. It remains your own responsibility to consult the relevant
primary resources when taking a decision.
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