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Such overpayment could be as a result of erroneous tax payments/deductions, tax credits which exceed a taxpayer’s tax liabilities, etc. Thankfully, the tax laws provide the mechanism through which taxpayers can obtain a refund from tax authorities. #kpmgtaxchat
To obtain a tax refund, a taxpayer typically notifies the tax authorities of its entitlement to a refund and the tax authorities will take steps to verify the taxpayer’s claim. Upon verification, the taxpayer has the option to either request for cash refund #kpmgtaxchat
or obtain a tax credit. While this process might seem straightforward, it carries some practical challenges such as the time taken to process a tax refund request, amongst others #kpmgtaxchat
