SARS PENALTIES

Corporates In The Firing Line!

Large corporates often find themselves on the receiving end of hefty SARS penalties, which, if not paid, will be followed by aggressive debt recovery steps, by any means necessary.

It is not surprising that these penalties are usually disproportional to the offense. However, with the current fiscal shortfall, SARS is leaving no stone unturned.

Irrespective of mistakes, SARS will levy penalties up to 200% of the value of the tax payable and interest of approximately 10% per annum, for non-compliance and, where tax is underestimated, or payment is late, SARS will also levy interest until the total underestimated/underpaid tax is paid in full.

Our team of seasoned Tax Attorneys have a proven track record in engaging SARS head-on and will assist in waiving/remitting your penalties with first-time accuracy.

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It is vital to note, whether penalties imposed are current or historic, a “head in sand” approach will not be wise, you fix the problem before SARS targets or the system penalises you.

Dealing with Tax Attorneys ensures you received guidance protect by legal privilege. This is not obtainable from accountants or normal tax practitioners.

We offer corporates a Penalty Diagnostic process, where we assess your affairs and provide your company with a complete update and propose next steps and considerations.

OUR APPROACH

We are experts in negotiating with SARS to reduce/waiver penalties and/or interest. However, it is important to note that to have penalties significantly reduced or completely waived, corporates should engage a Tax Attorney before paying the outstanding tax liability to SARS.