The South African Revenue Service (SARS) announced its intention to introduce administrative non-compliance penalties on outstanding corporate tax returns.
In a SARS draft public notice, the following was to the incidences of non-compliance and subject to a fixed amount penalty:
Failure by a company to submit an income tax return as and when required under the Income Tax Act for years of assessment ending during the 2009 and subsequent calendar years…
However, the penalty will only be imposed after SARS has issued a final demand to the taxpayer company and the taxpayer to submit the outstanding tax return within 21 business days of the date of issue of that final demand.
Read a November 2018 report [PDF 141 KB] prepared by the KPMG member firm in South Africa
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