Modern Quarrying Q3 2019

ance when claiming a diesel refund. “We are also able to train staff with regards to the correct record-keeping claims procedures and documents needed, as well as explaining the leg- islation as published in the Customs and Excise Act (as the diesel refund system is governed by the Customs and Excise Act and not the VAT Act),” says Hancock. “We assist users to raise their level of compliance so that they can successfully sustain an audit from SARS. Some of the duties we perform include a review, assessment and examination of existing systems and current logging record; pre SARS audit preparation to make opera- tions ready; post SARS audit sup- port, advice and corrective actions; provision of solutions to unresolved matters; improving log sheet integrity and align to relevant legislative requirements,” says Hancock. CustomEx also helps expose and resolve vulnerabilities and deficiencies, while providing a solution oriented approach. It also helps with focused interpretation, application and under- standing of legislation (relevant). “Once you have your system con- solidated into a compliant format and you maintain that, your claims should remain secure and you should successfully withstand SARS audit actions. We review claim documents prior to submission to ensure compli- ance and we do this in an affordable manner,” concludes Hancock. l

Volumes of diesel used within the quarrying and mining context is usually large considering the size of machinery that is deployed in primary applications.

a two-month VAT period you would expect R532 320 refund,” he says, adding that compliant claiming also enhances the enterprise’s reputation and integrity with SARS, especially when tax clearances are required. Expert advice Hancock says his company specia- lises in helping customers review their systems and advises what needs to be done before SARS arrives. CustomEx is made up of a dynamic team with many years of experience in Customs and Excise matters. The team is able to assist operations with ensuring compli-

and streamline it into your normal workflow and you will enjoy the benefit without the financial hurt,” he says. Speaking on the significance of successful diesel rebate claims, Hancock says the volumes of diesel used within the quarrying and mining context is usually large. The cash back factor (on every VAT return) is significant. “For example, if a quarry uses 100 000 litres in defined eligible activities, per month, and 80% being 80 000 litres, with the current rate of R3,327 applied, the rebate for one month would equate to R266 160. For

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QUARTER 3 - 2019 MODERN QUARRYING