One of Africa’s largest steel manufacturers, producing a wide range of steel products for local and international markets. With complex supply chains, high volumes of transactions, and significant capital expenditure, the company operates in a VAT environment that demands precision and deep industry understanding.
The company had a qualified chartered accountant employed full-time to manage its VAT affairs—reflecting its commitment to strong tax compliance. However, like many large industrial businesses, it faced the standard VAT challenges associated with scale, complexity, and evolving legislation. To ensure nothing had been missed, the client engaged Blumont Analytics to perform a specialist VAT review as an additional layer of assurance.
Despite the presence of a dedicated in-house VAT expert, the review identified several processing errors that had not been detected through routine procedures. Most notably, significant amounts of recoverable VAT relating to transactions which had not previously been considered for recovery. Within a matter of weeks, Blumont uncovered unclaimed input VAT totalling over R75 million (approximately €3.75 million/ £3 million pounds. This outcome demonstrates the unique value of Blumont’s 20+ years of VAT expertise. Even the most skilled accountants, focused on day-to-day compliance, may not have the time or tools to uncover systemic inefficiencies. Our sole focus on VAT allows us to identify savings that traditional finance teams may overlook.
