Synopsis - Issue for the month of February 2014
If a taxpayer incurs a tax debt that he is unable to pay, Chapter 14 of the Tax Administration Act 28 of 2011 makes provision for him to apply to the South African Revenue Service (SARS) for the debt to be written off or compromised, that is to say, partially written off.
In this issue:
- An amendment to the Tax Administration Act expands the grounds on which an assessment can be withdrawn.
- You can run, but you can’t hide – Australia invokes DTA to secure an order over South African asset.
- International tax avoidance – The OECD publishes Common Reporting Standard document
- SARS Watch