SARS warns taxpayers to do their due diligence
SARS Commissioner Edward Kieswetter cautions taxpayers to avoid receiving tax advice from non-compliant tax practitioners.
SARS, after achieving a record tax year for 2023/24 by exceeding projections by R10 billion, has observed a concerning pattern where numerous tax practitioners are not adhering to tax laws, with their clients showing similar non-compliance.
Kieswetter stated that 53 tax practitioners have been identified as non-compliant with their own taxes. This sheds light on why they may advise their clients poorly, leading to similar delinquency among their clients.
"We found 14 partners at a law firm in The Square in Sandton who underestimated their provisional taxes."
SARS has begun taking away licenses from practitioners who are not following the rules.
Eight licenses have been revoked. Criminal investigations are ongoing for others. They failed to meet their tax obligations.
Industry professionals who work with clients who received bad tax advice will relate to this. The new advisor must now fix the consequences of this situation. The new advisor is now responsible for rectifying the aftermath of this situation.
In the future, we will pay more attention to companies that promote specific tax schemes. Taxpayers should be cautious when seeking help from tax professionals," Kieswetter said.
Not all tax professionals operate with integrity and compliance in terms of their personal tax affairs and those of their clients.
Experts pointed out that Kieswetter's observations highlight the dangers of tax practitioners who do not comply with regulations. They emphasized that the consequences of receiving subpar or aggressive tax advice can be significant.
Taxpayers should listen to Kieswetter's warning and carefully choose their tax preparers. Make sure to do your research!"
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