KPMG South Africa: Personal Perspectives 2017
Welcome to the second edition of our Private Client tax publication, Personal Perspectives. Tax compliance continues to be on the top agenda for both government and corporates. Taxpayers and civil society are asking the right questions in terms of stakeholder accountability on proper tax expenditure.
The global transparency and illicit flow of funds debate has intensified. The era on exchange of information and country by country reporting has kicked off and legislation has been tightened to ensure that the movement of funds out of the country is properly tracked and any failure to declare is penalised. The Special Voluntary Disclosure Program deadline was the 31st of August 2017 and going forward individuals would have to adhere to the VDP process as stipulated by SARS.
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