By Brigitte Zegwaard, Senior tax consultant, BDO.
On 28 March 2018, SARS released a guide on understatement penalties (the SARS Guide). The SARS Guide is welcomed and provides practical guidance on how SARS determines the amount of the penalty to be imposed and the various factors it must consider when doing so. This is of particular importance as the frequency, scope and extent of SARS audits increase in an economy suffering with a budget deficit. (more…)
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