Provisional Tax - Risk Based Guidance
Presenters : Carmen Westermeyer
Overview
As a practitioner, you know the practical requirements of calculating and submitting a provisional tax return (IRP6), but do you know the risks associated with this? Allow Carmen Westermeyer to guide you through the potential hold-ups and perils of penalties imposed due to late submission or payment, and the possible solutions available to the taxpayer.
Content
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How does the basic amount influence the IRP6 calculation?
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What rights does SARS have to change IRP6 submissions?
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Why does it matter if I submit my return late?
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Why does it matter if I pay late?
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Which creates greater risk - paying late or submitting returns late?
Competencies Developed
After attending this video, you will:
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Understand the definition of a provisional taxpayer.
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Understand the requirements for SARS reviews.
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Understand the penalty regime for provisional tax.
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Gain insight into the rights of the taxpayer.