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Voluntary Disclosure Program

Voluntary Disclosure Program

The VDP is available to all taxpayers (excluding those with Customs-related defaults), the focus here is on natural persons and employers.

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Voluntary Disclosure Program

From time to time taxpayers fail to declare income in their tax returns either by a lack of sufficient guidance or knowledge of the South African tax legislation (negligence), confusion or what could be considered serious avoidance.

Where a tax “default” as defined has occurred, the taxpayer may need to consider the options of either re-opening tax returns already submitted to the South African Revenue Service (“SARS”) or by the submission of a Voluntary Disclosure Programme (“VDP”) application as provided for in the Tax Administration Act No. 28 of 2011 (“the TAA”). The benefit of submitting a VDP application is that understatement penalties will be remitted. 

Although the VDP is available to all taxpayers (excluding those with Customs-related defaults), the focus here is on natural persons and employers.

 

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