Voluntary Disclosure Relief For Individuals And Companies
SARS allows taxpayers to avoid criminal prosecution and regularise their tax affairs by making a disclosure under the VDP. A successful VDP application allows for an applicant to receive waiver of penalties and to settle outstanding tax liabilities with SARS. The benefits of a successful VDP application:
- Regularise tax affairs;
- Remittance of 100% of understatement penalties;
- Remittance of 100% of administrative non-compliance penalties;
- Transfer foreign funds back to South Africa “clean”; and
- Amnesty from criminal prosecution.
Guaranteed Legal Confidentiality And Privilege During Your VDP Application
All engagements through our Legal team carries with it the protection of legal confidentiality and privilege. This provides a safe and constructive environment to assess risk and provide advice on tax compliance and the corresponding tax implications. Legal privilege means that SARS cannot compel a tax attorney to supply information relating to communications between tax attorney and taxpayer surrounding legal advice that has been sought on taxpayer’s affairs.