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Are you a VAT offender?

by , 20 June 2016
Are you a VAT offender?Did you know there are over 26 instances where you could be criminally charged for evading VAT?

A simple thing like not issuing a proper tax invoice, or claiming a VAT refund when you don't have the proof, means you could be guilty of committing a criminal offence.

And there are 24 more that you may not even realise constitute VAT evasion. Keep reading below to make sure you're not evading VAT, without even knowing it...


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You're guilty of evading VAT if you:

  1. Tell your accountant to claim input tax on your VAT return when you don't have the tax invoices for them;
  2. Lie during an audit - verbally or in writing;
  3. Falsify your accounting records;
  4. Issue a fake tax invoice;
  5. Set up a plot or plan to de-fraud the State;
  6. Sign a false statement, return or any other document; or
  7. Lie to get a VAT refund or tax exemption you're not entitled to.
And if you don't do the following seven things you could also be criminally liable…
 
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Your chances of being audited by SARS just increased…
 
A small administrative mistake is all it takes for SARS to schedule an audit for your business.
 
Putting a simple zero in the wrong place on the new VAT return could cause a long and tedious audit process that could cost your business thousands.
 
Make sure this never happens to you by filling in the new VAT return 100% correctly every, single time.
 
Find out how here.
 
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You're also criminally liable if you don't do these seven actions:

 
1.       Tell SARS you've changed your registered details;
2.       Appoint a representative taxpayer;
3.       Let SARS know you've changed who your representative taxpayer is;
4.       Register as a tax practitioner - but you're acting as one anyway;
5.       Submit your VAT return to SARS;
6.       Issue a valid tax invoice; or
7.       Keep records as required by the TAA.
 
Phew! That's 14 offenses. I've covered the rest in the Practical VAT Loose Leaf Service. And in this service, you'll find out how to avoid these offenses and make sure you're 100% compliant with the Tax Administration Act and the VAT Act. If a court finds you guilty of a VAT offence, a fine and penalties from SARS will be the least of your worries…. You could be held personally liable and jailed for up to five years like this guy…
 
P.S. Back by popular demand – the VAT Masterclass is taking place in October this year. Book your seat here and secure it on the early bird special price to make sure you meet all your VAT obligations.


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