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Deloitte Tax Newsletter 10/2011

Electronic payment of VAT Refunds

Inland Revenue has recently started transferring VAT refunds electronically into taxpayers’ bank accounts. To ensure that Inland Revenue has your correct banking details, we recommend that you reflect your banking details on your VAT returns, especially in cases where you are eligible for a VAT refund. Should Inland Revenue not have a taxpayer’s banking details, they will continue to issue cheques to these taxpayers.

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