Sars has gazetted far-reaching new regulations that will give it access to a greater range of third-party information it can use to cross-check returns submitted by taxpayers.”These new regulations will greatly enhance Sars’ ability to verify the accuracy of information submitted by taxpayers,” says Ettiene Retief, chairperson of the National Tax and Sars Stakeholders Committees at the South African Institute of Professional Accountants (Saipa). “It’s a clear indication that Sars is getting more serious about collecting the tax monies due to it.”
Tag: Tax Adminstration Act
Sars punished Mpisane for honesty
Durban businesswoman was punished for making a voluntary disclosure to the SA Revenue Service.
Commissioner's discretion to levy or remit penalties under the Tax Administration Act
The Tax Administration Act 28 of 2011 (“TAA”) which came into effect on 1 October 2012 (bar a few specific sections) introduced two types of penalties, namely administrative non-compliance penalties and understatement penalties.
Is your tax practitioner registered?
JOHANNESBURG – The regulation of tax practitioners, due to start on July 1 this year, could see thousands of practitioners leave the system. This follows prolonged efforts to clean up an industry where every Tom, Dick and Harry could previously file returns and offer tax advice.
Recent case on judicial review of SARS’ actions in terms of PAJA
By Hanneke Farrand and Esther Geldenhuys, ENS – Edward Nathan Sonnenbergs The South African Revenue Service (“SARS”) increased their audit activity and focus on the collection of tax. Taxpayers often rely on protection in terms of administrative law and in particular, the Promotion of Administrative Justice Act, No. 3 of 2000 (“PAJA”). An important rule under PAJA is that judicial review can only be used as a last resort after all other internal remedies have been exhausted and taxpayers therefore first have to make use of the objection and appeal procedures provided for in the Tax Administration Act, No. 28 of 2011. The case outlined below highlights the nature of some of SARS’ actions that may be brought under judicial review in terms of section 6 of PAJA and the circumstances under which such a review application might be dismissed.
SARS and your bank account
On 29 February 2012, the South African Revenue Service (SARS) issued a notice in Government Gazette No 35090 (Notice No 173) relating to the liability of certain institutions, most notably banks, to furnish SARS with financial information about taxpayers. The notice was issued in terms of s69 of the Income Tax Act, No 58 of 1962, which section has been superseded by s26 of the Tax Administration Act, No 28 of 2011 (TAA).
South Africa's New Tax Administration Act Is In Force
by Lorys Charalambous, Tax-News.com, Cyprus 04 October 2012 The South African Revenue Service (SARS) has announced that the Tax Administration Act (TAA), which is intended to simplify and provide greater coherence in South African tax administration law, and was promulgated on July 4, 2012, largely came into effect on October 1, 2012.