The South African Revenue Service has opened a window of opportunity for taxpayers who are struggling to pay their tax debts.
The Tax Administration Act (TAA) allows SARS to reach a compromise with taxpayers who cannot pay their debt in full. SARS has introduced an expedited debt compromise process, which kicked off on 13 October.
It will, however, not be available to taxpayers such as former Prasa chief executive Lucky Montana, who has been embroiled in a protracted legal wrangle with the tax authority. The process applies only to tax debt that is not being disputed. Both SARS and the taxpayer must agree there is a tax liability that the taxpayer cannot pay in full.
SARS recently met with recognised controlling bodies (RCBs) such as…