February 9, 2021

Voluntary disclose: What it is and how to make use of it

Recently there has been a very positive uptick in activity at the Voluntary Disclosure Unit (VDP) of the South African Revenue Service (SARS). While public perception was previously that taxpayer’s matters were not attended to, practitioners have seen a welcome improvement in efficiency, turnaround time, and interaction with the VDP unit. Although SARS aims for a 201-day turnaround time, some recent applications have been settled in as few as 30 days. What is a VDP? The purpose of the VDP is to enhance voluntary compliance in the interest of good management of the tax system and the best use of SARS resources. The VDP aims to encourage taxpayers to come forward voluntarily to regularise their tax affairs with SARS […]