Personal Tax debt
SARS have now started to take money out of taxpayers’ bank accounts who have tax debt. This seems to be a growing trend by them this month. They know that a lot of people receive 13th cheques or bonusses this month. They mainly target people who has had debt for more than a year, and who has not made any attempts to make partial payments.
This can be avoided if you take corrective action in time and manage the situation. Contact us now for advise on how to manage your debt.
Company tax debt
This also applies to company tax, which includes VAT and PAYE. Also for trusts who have outstanding tax. This can be due to additional assessments during VAT audits, where not all invoices for expenses have been allowed by SARS. Also in the case of trusts or companies, in which property is held, that the section 13Sex rebate has been allowed by SARS i.t.o rental property.
Contact us if you need assistance with any VAT audits/objections, or additional assessments received on company tax.
People do not realize the seriousness of the situation at SARS this year. As well as the lengths they will go to to get money from taxpayers and stall paying refunds. So it is very important to manage your tax account. And take action if you have to make arrangements to pay in installments.