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Take this test to see if you qualify for a VDP from SARS

by , 12 May 2016
SARS has given taxpayers the opportunity to come forward and admit their non-compliance under the Voluntary Disclosure Programme (VDP).

By using this programme, taxpayers will be able to avoid shameful prosecution and heavy penalties. So it really helps to make use of it.

But before you do anything now, you first need to make sure you qualify for a VDP. And to help you do just that, I've set up a quick test for you...

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If you can answer 'YES' to all of the following questions, you'll qualify for a VDP...

Question#1:

Is the reason for your disclosure any of the following?

·         You've submitted inaccurate or incomplete information to SARS;
·         you've registered for the incorrect tax type;
·         SARS didn't assess you for the right amount of tax;
·         You didn't pay the correct amount of tax; or
·         SARS made an incorrect refund.
 
Question#2:

Is your disclosure voluntary?

Question#3:

Is your disclosure a new disclosure?

NOTE: You can't have already brought it forward to SARS.

Question#4:

Did you use the correct application form for your VDP application, namely the VDP01 form? And did you do it via eFiling?

Question#5:

Are you currently not under investigation or audit by SARS?

Question#6:

Does your situation actually call for penalties and prosecution?

NOTE: It needs to in order for you to apply for a VDP.  

Question#7:

Is your disclosure complete? In other words, have you given SARS all the information they need to know?

Question#8:

Will the VDP result in you not receiving a refund?

NOTE: You can't apply for a VDP if its result will see you receiving a refund.  

Question#9:

Did you pay your tax on time?

NOTE: If you pay your tax late, you'll not qualify.  

Question#10:

If you're dealing with an issue on a return, did you submit it on time?

NOTE: You won't qualify for a VDP if you didn't do so.

Question#11:

Did you submit a 'true' application (in other words, it wasn't anonymous but contained your name and ID number)?  
 
*That was a quick test to see if you qualify for a VDP.

To learn more on the Voluntary Disclosure Programme, page over to Chapter: V 05 in your Practical Tax Loose Leaf Service handbook, or click here to order your copy today. 

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