Dear fellow taxpayer,

Tax return season is upon us and you better believe SARS is just waiting for you to make one false move! And of course this year the stakes are higher: not only will you be penalised for tax related offences, you’ll also have to pay for dropping the ball on any of the obligations below:

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Peter Franck’s 235 Vat Tips booklet was one of our best sellers last year and we’ve already run out of stock twice this year. As a tax specialist, this is my only recommended pocket guide for all things Vat. Have you got your copy? If not, order it today by going here.
 

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SARS will penalise you if it finds that you failed to do any of the following:

• Register as a taxpayer;
• Inform the Commissioner of a change in address or other required details;
• Submit a return or other related documentation or information;
• Furnish, produce or make available documents or information as and when required;
• Reply to or answer a question put to you as and when required by the Act;
• Attend and give evidence as and when required;
• Register as an employer;
• As an employer, to notify SARS of a change of address or that you’re no longer an employer;
• As an employer, to provide details of an employee or deliver to an employee or former employee any employees’ tax certificate;
• As a provisional taxpayer, to submit an estimate of taxable income; or
• Any other non-compliance with a procedural or administrative action (Paragraph 4 of the regulation).

The penalties can be as severe as R16 000! Don’t take chances...go to the P09 New Administrative Penalties chapter of your Practical Tax Handbook and ensure you fulfil your obligations.

Until next time.
 
Regards
 
Ettiene Retief
Editor in Chief
The Practical Tax Handbook