That's an incredibly eye opening statistic! The transition to real-time VAT reporting in South Africa will be a fascinating one but incredible things can be achieved for both businesses and the country if we get this right.
𝗥𝟮𝟮–𝗥𝟱𝟬 𝗯𝗶𝗹𝗹𝗶𝗼𝗻... That’s how much South Africa loses annually to VAT non-compliance. But here’s the real kicker—this gap doesn’t just weaken public services; it also hits businesses hard. Compliant businesses are left to carry the burden while inefficiencies hold everyone back. The solution? 𝗩𝗔𝗧 𝗺𝗼𝗱𝗲𝗿𝗻𝗶𝘀𝗮𝘁𝗶𝗼𝗻. Think real-time reporting and e-invoicing to: - Reduce costly errors and fraud - Boost operational efficiency - Contribute to better public services Modernisation isn’t just about staying compliant—it’s about working smarter, not harder, while creating a stronger, more competitive economy. Ready to see how your business can lead the way? Read the article here: https://lnkd.in/dvqi7Dfv #VATCompliance #BusinessLeadership #ModernFinance