More Tax Audits May Be Looming under Project AmaBillions
The South African Revenue Service (SARS) is moving fast to tighten the tax net. This is not reform; it is an offensive – and entirely consistent with Commissioner Edward Kieswetter’s strategic mantra of making non-compliance hard and costly.
SARS Hits Individual with R30 Million Tax Bill Over Loan Accounts: A Warning to Directors and Shareholders
A recent Tax Court ruling in favour of the South African Revenue Service (“SARS”), which treated large loan account balances as undeclared income, serves as a warning to directors and shareholders to properly manage these accounts, maintain accurate records, and be prepared to explain the origin of funds when SARS flags loans as unexplained.
Project AmaBillions | Being abroad won’t save you from SARS’ collection efforts
Being abroad won’t save you from SARS’ collection efforts As the upcoming tax filing season approaches, the South African Revenue Service (SARS) is reportedly ramping up a major initiative aimed at recovering outstanding tax debt including from taxpayers living abroad.
SARS’ Strategic Workforce Expansion: Payroll Housekeeping May Be the Next Compliance Frontier
Employers can count on a house inspection from the South African Revenue Service (SARS) this filing season. With revenue recovery top of the agenda and more hands on deck to get the job done, know that a thorough mop-up of any payroll non-compliance is on the way.
Compromise to Clear Unaffordable Tax Debt – Is SARS’ “Project AmaBillions” Here to Take Your Millions?
As SARS continues to enhance its Compliance Programmes by modernising its systems and integrating artificial intelligence to better identify instances of non-compliance, so too is the revenue collector bolstering the manpower behind its tax debt collections team. In a strategic move, National Treasury has allocated additional funding to SARS’ resourcing initiatives, effectively boosting its operational […]