VAT and Tax Alert
VAT Alert
Voluntary Disclosure Program – 20 days to go!
The voluntary disclosure program (“VDP”) introduced with effect from 1 November 2010 to encourage taxpayers to disclose any tax defaults and regularise their tax affairs, is drawing to a close on 31 October 2011.
Customs Alert
On-Site Verification: Be aware of the potential impact on your business
The South African Revenue Service’s Customs National Audit team has developed and is deploying an intensive information gathering exercise whereby detailed information is sought regarding the respondent’s business. This on-site verification process is a precursor to the implementation of the revised Customs and Excise Act, 1964 (“the Customs Act”) anticipated to be made effective in the third quarter of 2010. With greater emphasis on Customs’ clients being selfcompliant, the National Audit Team appear to be preparing for the implementation of this new legislation by enhancing the customs to business interactions.