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SARS needs the money in your pocket …
- 06 December 2023
- VAT
- Christo Theron
The focus on VAT and Customs
SARS views VAT and Customs as two key areas of non-compliance where significant revenue is lost for the fiscus.
Over the last few months SARS have been conducting a large number of VAT and Customs audits resulting in significant assessments being issued to taxpayers.
In many instances assessments that should have been challenged by taxpayers have been accepted due to a lack of internal knowledge and a lack of financial resources to access external council.
Both the VAT and the Customs and Excise Acts are process and documentation driven. Detailed knowledge of what is required to dispose of the onus of proof that non-compliance has not occurred is therefore essential to adequately and confidently respond to a SARS challenge.
Unfortunately this knowledge is often lacking resulting in hapless taxpayers!
As a taxpayer and a steward of the business, it is your duty to ensure that you have the minimum levels of knowledge and capacity to deal with any challenge that may come the way of your organisation.
The Tax Faculty actively assists with this challenge by providing relevant and practical webinars to alleviate the pressure and risk.