Overview
This module comprises of three topics. Topic one covers SARS’ pre-assessment obligations in relation to taxpayers – this is a topic often overlooked by tax professionals. Understanding what SARS’ pre-assessment obligations are and identifying when SARS has not complied with same is very important. Topic two covers the all-important administrative non-compliance penalties – in particular when SARS can impose same and what the remedies and procedures are for remittance of such penalties. Topic three covers the most extreme of monetary tax penalties: the understatement penalty. In particular, we look at when the penalty may be imposed, how it is calculated, and when it may be remitted. This module includes an analysis of pertinent case law on the relevant topics.
Course Expiration: Upon purchase of the course, you have access for 180 days. Please ensure you complete the course within this timeframe, as you will be denied access after this period.
What will you get access to
HD Video Recording and High-Quality Sound
Downloadable Discussion Content aka Slides
Applicable Caselaw Documents, Guides, and Notices available for download
What this Module consists of:
Topic 1 – SARS’ Information Gathering Power
Overview
This topic covers SARS’s pre-assessment obligations when SARS is gathering information during an audit and what it means for the taxpayer if SARS fails to comply with its pre-assessment obligations.
Outcome
After completing this topic, you will know:
- When SARS can select a taxpayer for audit;
- The steps SARS must follow when auditing a taxpayer;
- What SARS must do before they raise an assessment in consequence of an audit conducted by SARS; and
- What it means for the taxpayer if SARS fails to abide by these rules.
Session Duration
1h
Topic 2 – Administrative Non-Compliance Penalties
Overview
This topic covers the imposition and remission of fixed amount penalties (such as those for failure to submit a return and failure to report a reportable arrangement) and percentage-based penalties (such as those for failure to pay tax on time).
Outcome
After completing this topic, you will know:
- When SARS can impose a penalty on a natural person or company for failure to submit a return;
- How the penalty is calculated
- When SARS can impose a penalty for late payment of tax;
- How SARS must notify taxpayers of having imposed the relevant penalty; and
- The circumstances when SARS can remit a penalty and how to request remission of these penalties.
Session Duration
1h 15min
Topic 3 – Understatement Penalties
Overview
This topic covers the imposition and remission of understatement penalties/USP’s.
Outcome
After completing this topic, you will know:
- Know when SARS can impose this penalty;
- How it is calculated; and
- The circumstances under which SARS may remit it.
Session Duration
1h 3min
Important note
All topics in this module including the overview must be marked as completed before you will be able to access the quiz. You need to score at least 80% on the quiz to be awarded a certificate of completion. The certificate of completion should entitle you to 4 hours verifiable output CPD.