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2019 Webinar: Reducing SARS penalties and interests
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2019/07/15
When: 15 July 2019
From 3:00 pm until 5:00 pm
Where: Online Webinar
South Africa
Contact: Tshepo Magopa
0129410400


Online registration is closed.
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Overview

During February 2019, Judge Molemela in the Supreme Court of Appeal in Purlish Holdings v CSARS, had to decide whether the Tax Court was entitled to increase the understatement penalties levied by SARS.

From the beginning of this year, SARS started levying non-compliance penalties, following the issuing of a public notice, where companies failed to submit returns of income.

In this webinar, we will deal with the levying of the administrative non-compliance penalties and the understatement penalties. Specifically, when SARS must impose a penalty, how it is calculated and what remedies are available to the taxpayer.

If a tax debt is not paid in full by the effective date, interest accrues, and is payable, on the amount of the outstanding balance of the tax debt. The webinar will deal with the general interest rules and when the taxpayer can request for the interest not to be payable.


Course Content

SARS’s entitlement to levy penalties

The administrative non-compliance penalties:

  • Non-compliance subject to penalty.
  • The fixed amount penalty and the percentage based penalty.
  • Procedures for imposing penalty.
  • Procedure to request remittance of penalty.
    • Timing of the request.
    • Using the efiling system.

The understatement penalty:

  • What is an understatement?
  • How is the penalty calculated?
    • prejudice to SARS or the fiscus;
    • Calculation of the short-fall;
    • The behaviour; and the
    • Understatement penalty percentage table
  • The remedies:
    • Objection and appeal against imposition of understatement penalty.
    • Voluntary disclosure.
  • Can the courts increase the penalty imposed by SARS

Interest

  • General interest rules.
  • Rate at which interest is charged and period over which interest accrues.
  • When can SARS direct that interest is not payable by the taxpayer?
  • When can an amount of interest paid to SARS be deducted from that person’s taxable income?

Presenter

Piet Nel

CA (SA)


CPD

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


Event Investment

Free for All Subscribers on the 2019 CPD subscribers. (Not yet a subscriber? Please click here for more information).

Member: R395.00

Non-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 been received 2 days after the event, legal action will be taken
  • Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.
  • Only written notice of cancellation will be recognised.
  • 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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