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Do We Know What SARS Knows?
- 03 December 2024
- VAT
- Christo Theron
SARS’ systems are becoming increasingly integrated and sophisticated. Anybody that still thinks with any level of confidence that SARS will never pick up something is either delusional or completely out of touch with what’s happening out there. Do we know what SARS knows?
Well, Do We?
The simple answer to the question is that it should not matter. Compliance is the responsibility of each taxpayer and should never be reliant on SARS not having full visibility of transactions or arrangements. The core assumption should always be that SARS does have full visibility.
The Role of the Tax Manager
When it comes to indirect taxes where tax consequences are linked to each individual transaction, it is essential that the modern tax compliance officer utilises systems and procedures to manage a multitude of transactions of which even the tax manager may not always have full visibility.
Unfortunately for the tax manager the environment in which transactions are taxed as well as the content and interpretation of legislation change on a continuous basis. It is therefore essential that fresh water is let into the Dead Sea on a continuous basis to ensure that the water stays fresh.
Who Trains the Tax Managers?
The onus is on tax managers to ensure that their knowledge and experience remain relevant and up to date to effectively execute their mandate as tax managers.
When the mandate is not properly executed resulting in losses for the entity due to tax failures, tax managers are unlikely to be on the receiving end of overwhelming sympathy from stakeholders. Not having any budget for training is not going to cut it as an excuse when the proverbial you-know-what hits the fan!
What About Tax Practitioners?
If a tax failure results from tax practitioners not being up to date with what is cooking in the field of tax, the results will be even worse…