Your five steps on how to apply to SARS for a VDP
So you've made a mistake on a tax return, and now you're stressing SARS will come down hard on you with massive penalties.
While this is a strong possibility, it is avoidable!
You see, in 2010, SARS introduced the Voluntary Disclosure Programme (VDP), the purpose of which is to encourage taxpayers to voluntarily admit their non-compliance with SARS (Like any mistakes on their tax returns, registering for the wrong tax type etc.). And in exchange, you as the taxpayer can avoid prosecution and understatement penalties.
To help you apply for a VDP today, here are 5 easy steps to follow...
Five steps to apply for a VDP
Putting a zero in the wrong place on the new Vat Return could trigger your next SARS audit!
Find out how to make sure this never happens to you by getting your Vat Return right every single time
Click here for more details…
Using eFiling is a requirement to apply for a VDP. So make sure you have access to a computer with an internet connection.
Go to www.sarsefiling.co.za
, Register for eFIling and log in using your name and password.
If you don't have access to a computer with internet, you can visit a SARS branch where a staff member will help you fill the application out and submit it via eFiling.
Click on the'Voluntary Disclosure' icon on the left-hand side of the screen, followed by 'New Application'.
A screen will then appear with spaces to fill in your ID number and name.
You don't have to fill this out. Instead, you can make your application anonymous. All you have to do is select that option.
But remember that sending an anonymous application to SARS doesn't count as a true VDP application, but merely as an inquiry to the VDP unit to see if the application will be successful. In other words, you'll still have to send another true application on top of the anonymous one.
*To find out what the final two steps are in vivid detail, along with helpful illustrations, simply page over to Chapter V 05: Voluntary Disclosure Programme
in your Practical Tax Loose Leaf Service
handbook. Here you'll find everything you need to know on the Voluntary Disclosure Programme and much more.
If you don't already have this invaluable tax resource, click here.