#WATCH I We will explore the circumstances under which SARS may impose penalties and interest and the rates thereof. This webinar will also address the remittance of penalties and interest, and the grounds upon which a taxpayer may rely for the request for remittance.

Overview

We will explore the circumstances under which  the South African Revenue Service (SARS) may impose penalties and interest and the rates thereof. The webinar will also address the remittance of penalties and interest, and the grounds upon which a taxpayer may rely for the request for remittance.

We will unpack the use of TAA opinions, commonly known as section 223 opinions, to mitigate understatement / provisional tax underestimate penalties.

Webinar Content

• Interest on the underpayment of taxes.
  • Imposition and rate at which interest is charged.
  • Period over which interest accrues.
  • Remittance and grounds thereof.
• Percentage based and understatement penalties.
  • Imposition and rate of the penalty.
  • Remittance and grounds thereof.
  • Use of TAA opinions for remittance of understatement penalties (substantial understatement).  

Competencies developed in this webinar

After attending this webinar you will be:

• Greater understanding of the circumstances under which SARS may impose interest and penalties.
• Awareness of the applicable legislative provisions in terms of which a remittance may be sought.
• Ability to use a TAA section 223 opinion to remit understatement penalties.

Presenter

Lebo Motsumi Nkoloti

Lebo is a senior associate in Bowmans’ Johannesburg Tax Practice.  She has corporate and international tax experience and has worked in both a legal and audit environment.

Lebo has a keen interest in tax dispute resolution and has experience in litigating and settling tax disputes across all tax types.  Lebo regularly engages with SARS on behalf of clients and plays a key role in the resolution of disputes with SARS. As part of her practice, Lebo also assists clients with developing and implementing procedures which assist clients to proactively manage the risks related to complying with tax requirements.

Lebo has BA and LLB degrees from Rhodes University, an LLM specialising in Commercial Law from the University of Cape Town, a Postgraduate Diploma in International Tax and a Master of Commerce in South African and International Tax from the University of Johannesburg.

CPD

This event and successful completion of the online assessment will secure 2 hours verifiable output Tax CPD points.

Event Investment

Free for Tax Technicians, Tax Practitioner, Tax Accountant CPD subscribers and Practice Packages. Not a CPD subscriber yet? Click here to register now.

• Regular price:  R495.00
• SAIT member price:  R395.00
• Group price 1 (5 people max): R950.00
• Group price 2 (10 people max): R1 800.00
• Group price 3 (15 people max): R2 500.00 

Payments and cancellations

• All payments must be made by EFT or by credit card, at least three working days before commencement of an event.
• Kindly note that should payment not be received two days after the event, legal action will be taken.
• Proof of payment will be requested at registration if payment does not reflect in The Tax Faculty’s bank account.
• Only written notice of cancellation will be recognized.
• Conditions:
  • If the cancellation occurs more than four working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than four working days prior to the event, a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• The Tax Faculty’s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.