From the beginning of 2019, SARS started levying non-compliance penalties, following the issuing of a public notice, where companies failed to submit returns of income.
This webinar will deal with the levying of administrative non-compliance penalties and understatement penalties. Specifically, when SARS must impose a penalty, how it is calculated and what remedies are available to the taxpayer.
If a tax debt is not paid in full by the effective date, interest accrues-, and is payable, on the amount of the outstanding balance of the tax debt. The webinar will deal with the general interest rules and when the taxpayer can request for the interest not to be payable.
COVID-19 TERS online application process explained