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Value-Added Tax Act, 1991 (Act No. 89 of 1991)

Part VI : Payment, Recovery and Refund Tax

45. Interest on delayed refunds


(1) Where the Commissioner does not within the period of 21 business days after the date on which the vendor's return in respect of a tax period is received by a SARS office refund any amount refundable under the Tax Administration Act, interest will be paid on such amount in accordance with Chapter 12 of that Act.


(2) Despite the provisions of Chapter 12 of the Tax Administration Act, if a person fails to furnish SARS in writing with particulars of the account required in terms of section 44(3)(d) to enable SARS to transfer a refund to that account, no interest accrues on the amount refundable for the period from the date that the refund is authorised, until the date that the person submits the bank account particulars.

[Section 45(2) substituted by section 32 of Act No. 44 of 2014]