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2019 Webinar: Provisional Tax & Penalties
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2019/05/22
When: 22 May 2019
From 3:00 pm until 5:00 pm
Where: Online Webinar
South Africa
Contact: Tshepo Magopa
0129410416


Online registration is closed.
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Overview:

Provisional taxpayers are often penalised by SARS, not because the provisional tax was paid late, but as a result of the underpayment of provisional tax due to an underestimation. In this webinar, we will revisit the law relevant to provisional taxpayers and the payment of provisional tax. The webinar will specifically deal with how the estimate of taxable income must be made and the relevance of the ‘basic amount’ in this respect. The presenter will then specifically explain when SARS can, or must, levy the estimation penalty, and the remedies that are available to the provisional taxpayer to have the penalty remitted. The final issue will relate to interest where the additional payment was not made by the provisional taxpayer.


Course Content:

In this webinar the following questions will be answered:

Provisional tax:

  1. Who are provisional taxpayers and who are excluded?
  2. Must a person register to be a provisional taxpayer?
  3. What are the obligations of a provisional taxpayer?
  4. When, and by whom must provisional tax payments be made?
  5. How is the amount to be paid by way of provisional tax calculated?
  6. How is the estimate determined?
  7. What are the consequences if the provisional taxpayer fails to submit an estimate?
  8. How accurate must the estimate be?
  9. What is the basic amount and can the basic amount can used as an estimate?
  10. What is the 14-day rule; and when is the basic amount increased?

Penalties:

  1. When can, or must SARS, levy the understatement penalties?
  2. What remedies are available to the provisional taxpayer?
  3. When is the late payment penalty imposed and what can be done to have it remitted?

Interest:

  1. When must a provisional taxpayer pay interest?
  2. Is there any relief from paying interest, or an instance where the provisional taxpayer doesn’t have to pay it?

Presenter:

Piet Nel - CA(SA)

Piet Nel is a CA (SA) who specializes in taxation. Recently, he was involved at the Tax Faculty, a training leg of the SA Institute of Tax Professionals (SAIT). He is a visiting professor at Wits and was previously a lecturer in tax at UNISA and the University of Pretoria at postgraduate level.

He was the project director for tax at SAICA for a period of three years. Prior to that, he was a member of SAICA's national tax committee. He is quite active in the development of tax legislation in South Africa by commenting on proposed legislation.

Over a period of more than three decades, he presented numerous tax seminars and workshops to tax practitioners. He regularly speaks on radio and TV and publishes articles.

He was involved, as a member of the SAICA Examination Committee, in setting the entrance examination for CA (SAs)


CPD:

This webinar and successful completion of the online assessment will secure 2 hours verifiable output TAXCPD points/units.


Event Pricing:

Free for General Tax Practitioner and Tax Accountant subscribers. (Not yet a subscriber? Please click here for more information).

Member: R395.00

Other member: R475.00

Company price: R950.00

Please note the company price applies whenever more than one person will be watching a webinar concurrently from one connection, e.g. if a group is watching the webinar together in a boardroom.


Payments & Cancellations:

  • All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
  • Kindly note that should payment not be received 2 days after the event, legal action will be taken
  • Proof of payment will be requested at registration, if payment does not reflect on SAIT`s bank account.
  • Only written notice of cancellation will be recognized.
  • Conditions:
    • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.
    • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.
  • Delegates who book and fail to attend will be liable for the full event fee.
  • SAIT`s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
  • Please click here for the full terms and conditions.

 

 

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