Corporate tax compliance and administration is a function which no business can neglect as interest and penalties levied by SARS can amount to vast sums of unnecessary expenditure. Navigating the complex and often uncertain compliance requirements and administrative protocols require expert knowledge and know-how. Our in-depth and working knowledge of SARS’ systems, procedures and protocols makes The Tax Agent the perfect partner to assist with these actions.
Tax Calculations
We perform tax calculations for various purposes, including tax return and statutory reporting purposes (deferred tax calculations also form part of our core services). Our extensive experience in this regard assists in providing clients with comfort as to the reasonableness of their tax liability. The level of our involvement can vary depending on the client’s needs as we can merely review tax calculations or we do the tax calculations from scratch. We also assist in provisional tax calculations to ensure that the amount paid falls within the requirements of the Act whilst at the same time taking into account business considerations.
Tax Returns
This service includes the preparation and submission of all statutory tax returns, i.e. income tax returns together with the required schedules thereto, provisional tax returns, VAT returns etc. We also facilitate the payment of taxes via the e-filing functionality (i.e. securities transfer tax, provisional taxes, VAT etc.). Our services are aimed at ensuring that the statutory deadlines for submissions are adhered to and we can assist in negotiating extensions for submissions where necessary. We also endeavour to ensure that submitted returns are 100% compliant with the legislative and practical requirements to prevent SARS comebacks.
SARS Queries & Audits
SARS often raise queries in relation to tax returns which can range from simple requests for documentation/clarification to onerous and complex queries as to the nature and purpose of the transaction, as well as anti-avoidance concerns. Our services include expert assistance with all audit-related matters, such as analyzing the query, preparing detailed responses, liaising with the auditors and negotiating extensions for submission of responses if necessary.
Tax Clearance Certificates
Our in-depth knowledge of SARS’s systems and procedures assist us in obtaining tax clearance certificates for clients, often subject to tight deadlines.
Penalty Remittance
Our success in negotiating the waiver of and/or reduced penalties bears testimony to our expertise is in this area. As penalties can substantially increase tax costs, we endeavour to ensure that clients submit a well-prepared request for remittance and actively manage the process to finalisation.