If you find yourself in receipt of a letter of final demand, and simply do not have the money to settle your tax liability, it is important to know your legal rights as a taxpayer and the steps available to you to stop SARS’ collections team.
What You Need:
The Suspension will in effect prevent SARS from implementing any collection measures against you whilst you get your facts and finances in order.
The Suspension of Payment is active from submission, meaning the taxpayer’s debt is automatically suspended, from the date that the Suspension is submitted to SARS. The Suspension will remain in place until formally revoked / declined by SARS, and even then, will remain in effect for a further 10 business days.
It is easy to be unaware of the full financial risk faced, when dealing with SARS, but it is important that taxpayers have an understanding when it comes to a tax debt; what it means, how it comes about and how SARS can legally reduce the amount you owed them!
Here at Tax Consulting South Africa, we believe in a bespoke solution approach, and our team of experts, including specialist tax attorneys and accountants will not only ensure the best results for you, but also guarantee legal professional privilege in all tax debt discussions.
