Verification of Assessment - what now?
What does this mean for my refund?
By Marc Sevitz · Updated
When SARS has completed their audit, they send a letter called a Verfication of Asssment/Completion Letter. This has the following wording:
VERIFICATION OF ASSESSMENT
We refer to the verification of the assessment for the 20xx tax period. Please note that no adjustment has been made to this assessment. However, in terms of the Tax Administration Act the South African Revenue Service reserves the right to conduct further reviews in future if required.
This is good news, what it really means - in simple speak - is that SARS is done with your audit and nothing has changed from the previous result. So if you are due a refund, this should be in your bank account within 7 working days.
