The Cost of Non-Compliance

SARS’ Shrapnel Knows No Borders

SARS has made it easier to clamp down on individuals it deems as “sophisticated taxpayers”, specifically those with the ability “to apply for more than the yearly R1 million single discretionary allowance”. This is per the SARS media statement on 3 May 2023, and is one of the reasons given for the new Approval for International Transfer, or AIT request, that comes with additional disclosures pertaining to specified assets and liabilities, both local and foreign, even at cost.

Jashwin Baijoo
Head of Strategic Engagement & Compliance