Submit legislation to parliament to (a) strengthen penalties for overstated VAT refund claims effective January 2010, and (b) pay interest on all legitimate VAT refund claims filed after December 2009 and not refunded within 90 days, with interest to be paid out of VAT revenues.
Introduced at R1.
Rationale for macro criticality: Enhance the efficiency of tax administration and improve revenue performance while ensuring the integrity of the VAT system by reducing incentives for fraud and corruption.