proceedings for my client (a CC) started in August 2014 and are now completed.
We have just
finalised the 2014 financials. Would this be lodged as per usual to SARS or
would we send the financials to liquidator for their auctioning with SARS?
A: In terms of section 248 of the Tax Administration Act (TAA) the liquidator
becomes the public officer of the CC and are to exercise all functions on
behalf of the CC. In our view, just like you would have to provide the
financials to the directors or on their instruction submit to SARS, similarly
you would have to provide the financials to the liquidators or submit on their
instruction. Note that in terms of section 237(c) of the TAA you cannot submit
any communication to SARS without the consent of the taxpayer or in this
instance the liquidators.
Disclaimer: Nothing in this query and answer should be construed as
constituting tax advice or a tax opinion. An expert should be consulted for
advice based on the facts and circumstances of each transaction/case. Even
though great care has been taken to ensure the accuracy of the answer, SAIT do
not accept any responsibility for consequences of decisions taken based on this
query and answer. It remains your own responsibility to consult the relevant
primary resources when taking a decision.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.