VDP interest relief proposed despite recent Constitutional Court precedent
Just a year after the Constitutional Court barred post-agreement interest remission in voluntary disclosure cases, Treasury proposes legislation to allow it.
#VoluntaryDisclosureProgramme
Stricter reporting obligations for crypto-asset transactions
From 1 March, new frameworks will impose expanded due diligence and information-exchange obligations on exchanges, custodians and banks.
Corporate taxpayers sceptical of SARS’s service delivery gains
Half of corporate taxpayers in PwC’s latest survey express dissatisfaction with SARS’s service improvements. Only 3% report a positive shift, while audit delays and penalty disputes remain a major pain point.
Under-reported crypto income may lead to tax assessments on past profits
With SARS tightening crypto enforcement, taxpayers should review their past filings, ensure accurate reporting of crypto profits, and consider the Voluntary Disclosure Programme to avoid severe penalties and interest.
SARS is clamping down on undeclared crypto holdings and trades
Among other measures, SARS says it is engaging with the FSCA about providing information on registered crypto asset service providers.
Constitutional Court to rule on remission of interest post-VDP agreement
The decision could set a precedent for taxpayers seeking relief from interest after reaching a Voluntary Disclosure Programme agreement with SARS.
