NAME AND SHAMED BY SARS?
A Voluntary Disclosure may be the silver lining you need
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. In what seems to be a complete policy change by SARS Commissioner Edward Kieswetter, in the media statement of 30 July 2020, stated that those who are convicted of criminal offences will be named and shamed. If this is implemented, it will certainly act as a deterrent, supporting SARS’ efforts to curb the decline in tax morality.