roadmap to ensuring
tax compliance
roadmap to ensuring
tax compliance
Declaring and disclosing your full income to SARS is vital in ensuring tax compliance, the opposite is often met with harsh penalties and interest as SARS has buckled down intensely on non-compliance.
Should you be guilty of not completely disclosing your income or tax liability to SARS, you are on SARS’ radar and they may impose massive penalties, up to 200% of the value of the default in some cases.
We effectively provide a full compliance service for South African taxpayers backed by a team of over 100 Professionals including Tax Specialists, Admitted Attorneys and Chartered Accountants, we effectively provide a full compliance service for individuals and corporates.
Declaring and disclosing your full income to SARS is vital in ensuring tax compliance, the opposite is often met with harsh penalties and interest as SARS has buckled down intensely on non-compliance.
Should you be guilty of not completely disclosing your income or tax liability to SARS, you are on SARS’ radar and they may impose massive penalties, up to 200% of the value of the default in some cases.
We effectively provide a full compliance service for South African taxpayers backed by a team of over 100 Professionals including Tax Specialists, Admitted Attorneys and Chartered Accountants, we effectively provide a full compliance service for individuals and corporates.
TAX DIAGNOSTIC PROCEDURE
A tax diagnostic is the first step in the path to compliance. It allows us to get a good view on your current compliance status with SARS. We will then be in opposition to advise appropriate compliance steps with considerations that are applicable to your current situation and correct any outstanding returns, zero returns or incorrect tax filings.
Based on the results of your tax diagnostic, we may then take one of the following steps:
- Voluntary Disclosure Programme (VDP)
- Tax Debt Management
- SARS Dispute Resolution
- Advanced Tax Planning
TAX DIAGNOSTIC PROCEDURE
A tax diagnostic is the first step in the path to compliance. It allows us to get a good view on your current compliance status with SARS. We will then be in opposition to advise appropriate compliance steps with considerations that are applicable to your current situation and correct any outstanding returns, zero returns or incorrect tax filings.
Based on the results of your tax diagnostic, we may then take one of the following steps:
- Voluntary Disclosure Programme (VDP)
- Tax Debt Management
- SARS Dispute Resolution
- Advanced Tax Planning
TAX DIAGNOSTIC OUTCOMES
TAX DIAGNOSTIC OUTCOMES
SUSPENSION OF PAYMENT
To prevent SARS from taking any drastic collection steps, it is imperative that a tax specialist be engaged to prepare a Request for Suspension of Payment. The request for suspension of payment is a written request in terms of the Tax Administration Act, 28 of 2011 (“the TAA”), whereby a taxpayer requests that a payment be suspended pending the lodging of a dispute.
To prevent SARS from taking any drastic collection steps, it is imperative that a tax specialist be engaged to prepare a Request for Suspension of Payment. The request for suspension of payment is a written request in terms of the Tax Administration Act, 28 of 2011 (“the TAA”), whereby a taxpayer requests that a payment be suspended pending the lodging of a dispute.
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VOLUNTARY DISCLOSURE PROGRAMME
The avenue of the VDP allows the regularisation of tax affairs without the payment of massive penalties, but this only remains available before SARS knocks on your door. Crucially, the VDP process remains the only way to avoid criminal prosecution for the non-disclosure of income or tax liability.
It is important to note that the VDP is applicable to all taxes administered by SARS, including income tax, employees’ tax (encompassing PAYE, SDL, UIF), VAT, but excluding Customs and Excise.
The avenue of the VDP allows the regularisation of tax affairs without the payment of massive penalties, but this only remains available before SARS knocks on your door. Crucially, the VDP process remains the only way to avoid criminal prosecution for the non-disclosure of income or tax liability.
It is important to note that the VDP is applicable to all taxes administered by SARS, including income tax, employees’ tax (encompassing PAYE, SDL, UIF), VAT, but excluding Customs and Excise.
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OUTSTANDING RETURNS
Administrative non-compliance penalties, which can range from R250 to R16 000 per month, depending on the taxable income of the taxpayer and will be imposed if taxpayers fail to submit their tax returns timeously as required under the Tax Administration Act.
Not only will you be accumulating large amounts of administrative penalties or will you be unable to obtain a refund from SARS due to your non-compliance, but you can possibly even be faced with criminal charges. Continuous non-compliance can lead to criminal prosecution and offenders can be imprisoned for up to a period of up to two years.
Administrative non-compliance penalties, which can range from R250 to R16 000 per month, depending on the taxable income of the taxpayer and will be imposed if taxpayers fail to submit their tax returns timeously as required under the Tax Administration Act.
Not only will you be accumulating large amounts of administrative penalties or will you be unable to obtain a refund from SARS due to your non-compliance, but you can possibly even be faced with criminal charges. Continuous non-compliance can lead to criminal prosecution and offenders can be imprisoned for up to a period of up to two years.
LEARN MORE
SUSPENSION OF PAYMENT
To prevent SARS from taking any drastic collection steps, it is imperative that a tax specialist be engaged to prepare a Request for Suspension of Payment. The request for suspension of payment is a written request in terms of the Tax Administration Act, 28 of 2011 (“the TAA”), whereby a taxpayer requests that a payment be suspended pending the lodging of a dispute.
VOLUNTARY DISCLOSURE PROGRAMME
The avenue of the VDP allows the regularisation of tax affairs without the payment of massive penalties, but this only remains available before SARS knocks on your door. Crucially, the VDP process remains the only way to avoid criminal prosecution for the non-disclosure of income or tax liability.
It is important to note that the VDP is applicable to all taxes administered by SARS, including income tax, employees’ tax (encompassing PAYE, SDL, UIF), VAT, but excluding Customs and Excise.
OUTSTANDING RETURNS
Administrative non-compliance penalties, which can range from R250 to R16 000 per month, depending on the taxable income of the taxpayer and will be imposed if taxpayers fail to submit their tax returns timeously as required under the Tax Administration Act.
Not only will you be accumulating large amounts of administrative penalties or will you be unable to obtain a refund from SARS due to your non-compliance, but you can possibly even be faced with criminal charges. Continuous non-compliance can lead to criminal prosecution and offenders can be imprisoned for up to a period of up to two years.
LEGAL PRIVILEGE
All engagements through our Legal team carries with it the protection of legal confidentiality and privilege. This provides a safe and constructive environment to assess risk and provide advice on tax compliance and the corresponding tax implications.
Legal privilege means that SARS, nor anyone else,can compel a tax attorney to supply information relating to communications between tax attorney and taxpayer surrounding legal advice that has been sought on taxpayer’s affairs.
LEGAL PRIVILEGE
All engagements through our Legal team carries with it the protection of legal confidentiality and privilege. This provides a safe and constructive environment to assess risk and provide advice on tax compliance and the corresponding tax implications.
Legal privilege means that SARS, nor anyone else,can compel a tax attorney to supply information relating to communications between tax attorney and taxpayer surrounding legal advice that has been sought on taxpayer’s affairs.
MEET OUR TAX DIAGNOSTIC AND COMPLIANCE TEAM
MEET OUR TAX DIAGNOSTIC AND COMPLIANCE TEAM
