EXPLAINER | New rules for resolving tax disputes with SARS | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 67 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 80%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

A number of new rules for resolving tax disputes with SARS have been implemented. Knowledge is power when it comes to taxation, says Danielle Luwes. | News24_Business

A number of new rules for resolving tax disputes with SARS have been implemented. Knowledge is power when it comes to taxation, says New rules for resolving tax disputes with the South African Revenue Service have been implemented, and will have a significant impact on both taxpayers and the revenue authority.

The new rules include an extension of time periods, amendments to the objection process, and updates to the appointment of Alternative Dispute Resolution facilitators.Under the new rules, if the timelines for various procedures are not already regulated by the rules, the parties can agree to shortened periods.A notice of objection must be delivered by a taxpayer within 80 days of the date of the assessment.

The 80-day period excludes the additional 30-day extension that a taxpayer may request on reasonable grounds, and exceptional circumstances may warrant an extension of up to three years.Under the new rules, a taxpayer may appeal on a new ground not raised in the NOO, unless it is a new objection against a part of the assessment not previously objected to.The facilitator must have appropriate tax experience and be acceptable to both SARS and the taxpayer.

It is essential to be aware of your rights and responsibilities as a South African taxpayer when it comes to taxation. Being informed of these changes and seeking advice when needed is crucial. Knowledge is power when it comes to taxation. Remember to exercise your rights and take the necessary steps to ensure a fair and just resolution of any tax dispute with SARS.24 encourages freedom of speech and the expression of diverse views.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BOOK EXCERPT | Edward Kieswetter's six commandments | BusinessSARS Commissioner Edward Kieswetter has 'an obsession to serve', chartered accountant and author KC Rottok Chesaina writes in his new book, The CEO X Factor. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »