Practical Guidance: SARS Verification and Requests for Relevant Material
Duration: 2 hours
Price: R195.00
Practical Guidance: SARS Verification and Requests for Relevant Material
Presenters : Johan Heydenrych
Overview
When was the last time you read chapters 4 and 5 of the SARS Tax Administration Act? In the busy world of a tax professional, it’s easy to forget the intricacies of these important facets of the Act and how their legalities can affect your client. These chapters also lay out the processes required for smooth verifications of tax returns and requests for relevant material.
Johan Heydenrych refreshes participants on the intricacies of filing returns and record-keeping, as well as reminds attendees of SARS’s powers and procedures for gathering relevant information for verifications and audits. Johan discusses the technical framework within which SARS must conduct a verification and request for relevant material, and illustrates on a practical level how you, as the tax practitioner, should accurately respond to SARS requests.
Webinar Content
- Review of relevant sections of Chapters 4 and 5 of the Tax Administration Act No 28 of 2011 (“TAA”).
- Importance of proactive identification of potential tax uncertain positions:
- Potential dispute as to the “facts.”
- Potential dispute as to matters of “law.”
- What resources are available when a contravention of a law is suspected or identified.
- Practical examples of dealing with Requests for Information:
- Income Tax
- Value-added Tax
- Employment tax
- Dividends
Competency Development
The main purpose of the video is to provide participants with the following competencies:
- To become familiar with the requirements of the TAA in so far as the following are concerned:
- Record-keeping requirements.
- Information gathering rules as per Chapter 5 of the TAA.
- What constitutes “relevant information.”
- To anticipate a Request for Information at the time of submission of tax returns, thereby reducing the risk of “surprises” arising from SARS requests for information.
- On a practical basis, to respond to requests for information in a clear and concise manner, reducing the risk of escalation to a full-scale audit.
- Communication with clients regarding the importance of proactive tax risk management to reduce the risk of disputes.
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