Julius has gone to the high court to get SARS to honour the agreement but the high court has told them to go to trial over the matter.
All because SARS believes Julius Malema hasn't kept his tax
affairs current. Which is just one of the requirements for SARS to park your tax
When can SARS cancel a tax compromise agreement?
SARS can bring back a compromised tax
debt if you contravene any tax
law or obligation going forward. Even if you forget to submit one return, SARS is within its rights to withdraw the compromise and put the entire tax
debt back on your account for immediate collection.
If SARS becomes aware that any of the information or facts you give, aren't accurate or you didn't supply certain information, it can cancel the agreement.
Also keep in mind that if you're sequestrated, or your business is liquidated after SARS grant the compromise but before
you settle the agreed amount, SARS can cancel the agreement and reinstate the parked tax
This means you have a responsibility to ensure you're always compliant – at all times!
Don't let this happen to you.
If you're about to apply for a tax
compromise, get your hands on the Practical Tax Loose Leaf.
It covers everything you need to know about tax
compromises and what you have to do to apply for one. AND make SARS stick to it.
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breaks you can implement today to save your business thousands of Rands! Here's how to enjoy the savings!