Point #1: If you're battling with tax debt, you need to know these four things about a tax debt compromise.
Point #2: There are three steps you must follow when preparing to lodge an application for a tax debt compromise.
Point #3: There are eight pieces of information you must gather when requesting a tax compromise.
Point #4: If you answer 'no' to these six questions, SARS will accept your tax debt compromise application.
Point #5: Here's what will happen after SARS agrees to compromise a tax debt.
Point #6: If your tax debt compromise application is successful, three things will happen before finalisation occurs.
Point #7: Just because your tax debt compromise was successful, doesn't mean you're off the hook!
Point #8: There are consequences to a tax debt compromise.
Point #9: There's recourse if SARS rejects your application for a tax debt compromise.
Now that you know these nine points about a tax debt compromise, take advantage of it if your company is struggling with its tax debt.
PS: If you're still not sure how this process works, check out Tough Tyres's story. It will help you understand the tax debt compromise process. Alternatively, ask our experts at the Accounting & Tax Club any question you have about a tax debt compromise.