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Revealed: Eleven reasons your company could face administrative penalties

by , 23 May 2013
SARS doesn't want non-compliant taxpayers, and has designed penalties to act as a threat against non compliance. For administrative non compliance, your company could face penalties of up to 200%. Don't let this happen to your company. Read on to find out eleven reasons your company could face administrative penalties so you can comply.

e warned, your company will face hefty penalties if SARS thinks you didn't comply with a tax Act.

'The penalty starts at R250 per month and increases by the same amount every month that you fail to comply for 35 months,' says The Practical Tax Loose Leaf Service.

But if you know the reasons for these administrative penalties, you can avoid them completely.

11 reasons your company could face administrative penalties

According to The Practical Tax Loose Leaf Service, you'll face penalties if you fail to:

  1. Inform SARS of a change in your company's details;
  2. Declare employees' tax;
  3. Provide details of your employees;
  4. Appoint a public officer for your company
  5. 'Appoint and maintain a place to receive delivery of notices and documents, the post of public officer filled or notify SARS of a change of the public officer or place for delivery of notices,' says the Loose Leaf;
  6. Furnish, produce or make available any information or documents to SARS as per the Income Tax Act;
  7. Reply to a question by SARS;
  8. Notify SARS of a change of address as an employer;
  9. Notify SARS of the fact that you're no longer an employer;
  10. Deliver employees' tax certificates to employees or former employees and
  11. If you deliver an employees' tax certificate in contravention of the rule that the employer must first render an employees' tax return.

Knowing the reasons your company could face administrative penalties will ensure you avoid them completely.

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