Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Search Products
Filter by Categories
B-BBEE
Blog
Company Secretarial
Featured
General Business
General Interest
Investing in Property
Marketing
Personal Growth
Personal Wealth
Tax
Trusts and Estate Planning
Uncategorized

Yes you can.

SARS often imposes Administrative Penalties of R250 per month on companies for every annual tax return that is overdue. Individuals normally get hit with R2 000 per month per return.

These penalties can quickly grow to 10s of 1000s of Rands. So, you get scared and pay but still don’t do those returns. More penalties and maybe more payments.

Finally, you (or your accountant) wake up and do the returns.

Now what?

You can ask for a remission of penalties which is usually granted, or

You can wait and see what happens.

Remarkably, SARS usually reverses the penalties and refunds those payments even if you just wait and see.

0 comments

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Looking for even more informative content? Check out the books I have written which have proved to be very popular.

Need help with your Trust or Business?

Contact us today or set up a free meeting with our CEO, Derek Springett. We have been offering expert advice and business services since 1971. You can also view see our full list of services.