3.1  Non-compliance with Section 26 of the VAT Act 3.2 Recoverability of Long Outstanding Receivables (Repeat Finding)  3.3 Delays in Submitting Withholding Tax for Rent  139. Botswana International University of Science and Technology  The auditors observed that, as in the previous year the Institute  was not in compliance with provisions of Section 26 of the VAT  Act, since it failed to submit some VAT returns within the stipulated time. Returns for August 2017 and September 2017  were delayed by 1 day which resulted in late penalty of P5 729.95.  In response management noted the auditors finding and stated  that they would improve in future.  The auditors noted that the Institute had long outstanding receivables and management was yet to establish a formal  policy for ascertaining allowances for credit losses as required by  accounting standards. In response management indicated that there had been a slight  improvement in collection of outstanding debtors and that a  formal finance policy would be put in place to ascertain recoverability of receivables and allowances for credit losses.  The auditors noted some delayed submissions for the WHT on rent  by the Institute. The delays were 17 days for January 2017 tax  period, 8 months for April 2017 tax period and more than 7  months for June 2017 tax period as it had not been submitted at  the time of audit. In response management indicated that they would ensure that  WHT is remitted on time. The financial statements of the Botswana International University of  Science and Technology for the financial year ended 31 March 2018  were audited by Messrs Mazars, Certified Auditors, who were appointed by the University Council in terms of Section 19(1) of the  Botswana International University of Science and Technology Act, (Cap  57:05)  135 