2. Finance departments often assume that all of the necessary
systems are in place to ensure that full recovery is made,
however, Elite Recoveries has not come across one company
that claims all their VAT correctly. It will also allow you to assess
your internal controls and ensure they are implemented and
running as they should be. In many cases, errors are difficult to
identify and as a result companies overpay VAT by not claiming
all the VAT legally due to them.
REASONS TO PERFORM A VAT REVIEW
Loss of expertise and consistency due to high
staff turnover.
High volumes of transactions.
Implementation of new accounting systems
and procedures.
Uncertainty over what constitutes a valid claimable
VAT transaction.
Constant changes in the VAT laws.
ERRORS OR FAILURE TO CLAIM CAN ARISE FROM
It is a risk free process (No recovery = No fees).
Elite Recoveries bears all the risk.
99% of our process is conducted off site.
Minimal involvement from your staff
(we perform all aspects of the verification).
Fully confidential with non-disclosure agreement
in place.
Improved cash flow.
Increased profit.
Recover lost VAT due to you.
Confirm internal VAT controls and processes.
Allow for future savings and not have to pay for it.
Add to shareholders value.
Pay for results ONLY!
SO WHY USE ELITE RECOVERIES AND WHAT ARE
THE BENEFITS TO MY COMPANY?
Elite Recoveries’ fees only become payable
once your organisation is in a position to
realise the saving. In practice, our fee would
generally occur either at the time that you
have received your refund from SARS, or if
your usual VAT payment to SARS has been
reduced as a result of our saving.
As a VAT specialist consulting firm, we have materialised substantial profits for all of our clients. We make use of Pinpoint,
which is a unique data analytical software application. This application enables us to do a comprehensive line by line
verification review of the past 5 years. In our experience we have determined that time constraints, regular VAT law
amendments and in some instances, financial restrictions, prevent companies from thoroughly assessing
their VAT affairs.
INTRODUCTION
3. THE PROCESS
PHASE 1
DATA ACQUISITION
This is where we make use of
Pinpoint (to review every
transaction possible, which
includes all journals, sub
ledgers, cash books etc). This
would require that your IT
department provide us with
the backup of financial data
in text, CSV, MS Excel, SQL
or MS Access.
PHASE 2
DATA MANIPULATION AND
CLAIM IDENTIFICATION
Manipulation of data will
be done at our offices
using Pinpoint analytics
software, after which a
possible claim will
be identified.
PHASE 3
CLAIM VERIFICATION
THROUGH DOCUMENT
RETRIEVAL
Retrieving of documents
will be done by our team to
minimise the involvement of
your staff. These documents
need to be retrieved to
substantiate our claim.
Elite Recoveries will be
required to be on site.
PHASE 4
PRESENTATION AND
CLAIM APPROVAL
The claim will be presented to
Management to allow for the
claim approval. Only after
both parties are in agreement,
will the approved claims be
submitted to the relevant
entities. A complete and
detailed report will be
provided for any
future referencing.
PHASE 5
INVOICING
Only once you have received the benefit from SARS, either through a refund or by the reduction of your monthly payment to SARS, will
Elite Recoveries issue the invoice.
SAVINGS WILL INCLUDE THE FOLLOWING, BUT ARE NOT LIMITED TO
Over payments of VAT.
Under deductions of VAT.
Undue assessments.
Undue penalties.
Reducing additional assessments issued by SARS.
Submissions made on behalf of the client to SARS, with the view of convincing SARS to write off, compromise, in whole or in part,
any amount of tax, duty, levy, charge, interest, penalty or amount due by your company to SARS. Nothing will be submitted to SARS
without your approval first.
Elite Recoveries has achieved a 100% success rate
on every review performed thusfar.
FEE STRUCTURE
Our fees are charged on a contingency basis for confirmed recoveries at a pre-determined percentage. There are no additional hidden
fees. Elite Recoveries will carry all additional costs to complete our review such as document retrieval or travel costs.
4. Elite Recoveries has built up a dedicated team of experienced professionals who
specialise in VAT reviews, thus enabling us to deliver the best service possible without
disrupting your company’s day to day activities. As your auditors will not have the
time to look at each and every transaction, we enable you to do so at a fraction of the
time, and without any risk to your company.
We are 100% confident that we can increase your profit.
OTHER SERVICES OFFERED THROUGH OUR PARTNERSHIPS
Accounting and Auditing .
Commercial Advice.
Taxation.
OUR PARTNERS AND RESOURCES
ADVOCA DYNAMIC AUDITING
Danie Dreyer – Director
- CA
- BCompt
- Diploma in Forensic Auditing
Our professional management team have the drive and energy
to ensure success in achieving your financial goals.
Pretoria
First Floor, Bush Willow Building,
Green Hill Village Office Park,
Cnr Botterklapper & Nentabos Avenue
Die Wilgers
Pretoria
0040
Tel: + 27 71 659 2509
E-mail: info@eliterecoveries.co.za
www.eliterecoveries.co.za
WHY DO WE WORK ON A
RISK BASIS AND ARE THERE
ANY ADDITIONAL CHARG-
ES?
We are 100% confident in our
methodology and in 9 years
have not come across a client
where we did not obtain a
saving. We only charge on
monies recovered and
nothing more.
WE HAVE OUR OWN
INTERNAL AND/OR
EXTERNAL AUDITORS
No auditor/audit firm does a
line by line VAT check on all
transactions where as we
scrutinise every transaction
risk free to you.
WE DO NOT HAVE THE TIME
OR PERSONNEL TO HELP
ELITE RECOVERIES
Elite Recoveries do 99% of the
review off site and use our
own personnel to obtain the
necessary documentation.
This is the only time we will
be on site.
WHAT ABOUT THE CONFI-
DENTIALITY OF OUR
INFORMATION?
Elite Recoveries signs a non-
disclosure confidentiality
agreement with all of our
clients. If need be, we will
also sign your NDA.
COMMON REACTIONS FROM POTENTIAL CLIENTS
Cape Town
Unit 2 & 3 Hoheizen Office Park
Hoheizen Crescent
Hoheizen
7530
Tel: + 27 71 659 9345
E-mail: infocpt@eliterecoveries.co.za
www.eliterecoveries.co.za
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