Profit Recovery Solutions
Recover your lost profits
How We Can Help
Every year, companies lose significant amounts in recoverable taxes and penalties.
Is your business one of them?
Here’s how we can help you to recover lost profits and improve your bottom line.
VAT Benefits Review
This efficiency review is a systematic, line-by-line interrogation of transactions to identify errors in capturing the VAT. No data set is too large. Our aim is to secure tangible cash benefits.
Dispute Resolution
This service entails an assessment of VAT payments to identify opportunities for penalties and interest levied by the South Africa Revenue Service to be reduced or waived. Once we have identified an opportunity, we will prepare an objection for submission to SARS.
Why work with us?
We can increase your cash flow
Considering the vast number of transactions processed by your business every year, we expect our review to identify a material amount of financial leakage and to recover these profits for your business
We improve system and process effectiveness
Once we have completed the review, we provide you with a post-analysis report, detailing the claims identified, explaining how errors occurred and recommending practical steps to address the procedural or system problems that led to the leakage, to prevent it happening in future
We extend the reach of your internal audit
PRS’ services are designed to complement – not replace – your internal audit function. Instead of testing for compliance with policies, we use software and methodologies to analyse data, and systems, and provide a detailed overview from the data
Our process
Data Harvesting
Data Analysis
Verification
Reporting & Feedback
Success Story
Cinema
The client is a large cinema group with more than 400 screens country-wide and approximately 60 000 seats. The client had recently engaged another service provider, but PRS was given the opportunity to do a follow-up review of the group’s data with the goal of recouping additional losses.
The outcome
Our analysts identified nearly 10 000 processing errors and helped the client recoup a substantial amount in unclaimed input tax benefits.
Our clients
We have provided services to more than 930 clients over the past decade.
The PRS team was efficient and highly professional in their approach with minimal disruptions to staff. The success from this intervention not only added value by rectifying past aspects on VAT but also ensured future benefits from these rectified aspects.
Tapiwa Mutanha
Tax Compliance Manager, Mediclinic Southern Africa
What stood out is that they had to do the review for 30 plus entities in the group, dealing with various Financial Managers and head office staff. We also had a substantial “technical” claim, on which we were previously advised that it was not claimable. The PRS Master Tax Practitioner was of the opinion that we could claim it and they went so far as to get a third-party opinion. They then assisted us professionally with the process of handling the queries from SARS, until the claim was paid out.
Tshidi Papo
Group Tax Manager, Ascendis Health Group
Their proprietary software identified a huge benefit towards our VAT claim and their expertise added great value to our business and long-term benefit - the results FAR exceeded our expectations!
Craig Domoney
Senior Manager: Corporate Performance Management, Liquid Telecom
They had a high level of success and through that added significant shareholder value to our company, not only in identification of past errors and omissions but also for us to get all future benefits by implementing new controls to prevent future leakage.
Kevern Mattison
Director, Buffalo Coal Dundee
The project was successful and increased our profitability and shareholder value. I would recommend PRS’ services to any prospective client.
David Standage
Financial Director, Cullinan Holding
