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Six things to remember when it comes to a SARS audit

by , 22 August 2014
SARS audits are no joke. If SARS finds any errors in your taxes or finances, you're in for a long and difficult process. But you have rights when it comes to a SARS audit.

Sadly though, most business owners forget their rights and just do whatever SARS says.

That's why we want to tell you these six things you must remember when it comes to SARS audits. They'll help you enforce your rights as a taxpayer and stop SARS from overstepping the boundaries.

So next time a SARS auditor comes knocking, remember these six things...


Never forget these six things when it comes to SARS audits

1. SARS will audit you if it feels it needs more information about your company's taxes or financial position or if it thinks you're withholding something.
2. This doesn't means it can knock your door down and just take this information. You still have rights and it must give you reasonable notice. This notice is normally 21 days before the proposed start date for the audit.
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3. You can and MUST refuse to comply with SARS if it doesn't have the correct documentation to conduct its audit. 
4. Request that SARS gives you notice (or any follow-up queries) in writing before going further.
5. The prescription period for SARS is generally three years. This means SARS can't go further back in your tax history than the previous three years of assessment.
6. If your financials suddenly change drastically, you'll pop up on SARS' radar screen.
If you remember these six things it'll help you avoid problems with SARS and you can stop it from violating your rights as a taxpayer.
So never forget to enforce your rights, demand proper documentation from SARS and ensure you get everything in writing.

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