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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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KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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