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Five points you may not know about a Voluntary Disclosure Programme

by , 23 June 2014
A Voluntary Disclosure Programme (VDP) came into effect on 1 October 2012. Since its introduction, the programme has been very successful.

I was looking through the SARS website and noticed that SARS has added some new information regarding a VDP.

Here's what you need to know so it'll be easier for you to get your tax affairs in order and avoid penalties of up to 200%.

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Here are the five things SARS wants you to know about the VDP

Point #1: According to SARS, it's not necessary to request re-confirmation of your VDP application. If the eFiling system recognised the application, then the application is on the VDP register and SARS will process it.

Point #2: SARS will notify you when its allocated your application to a VDP evaluator for processing. At this stage, you may have to submit additional or outstanding supporting documents.

Point #3: You can cancel your VDP application any time by sending an email to vdp@sars.gov.za.

Point #4: You can submit outstanding tax returns to SARS that relate to a VDP application through normal channels any time before it processes your VDP application.

If SARS assesses the return before the VDP application is processed, it'll waive interest and penalties that are eligible for VDP relief when the VDP application is processed and concluded.

Point #5: The VDP unit will discard an incomplete VDP application in these instances:

  • Where you don't reflect a description of the default.

  • If the source code is absent.

  • If the application relates to outstanding tax returns SARS is already aware of.

Note: The VDP unit won't notify you when it discards your application. So make sure your application is complete before you submit it.

There you have it. Knowing these important points will make it easier for you to get your tax affairs in order through a VDP.

PS: If you need more information like the six requirements you have to meet to qualify for a VDP or the steps you must follow to apply for it, check out the Practical Vat Loose Leaf Service.

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