AVOID TAX PENALTIES: ALL YOU NEED IS SOME TAX ADVICE?
Authored by Aviwe Onceya and Busisiwe Mahlangu An understatement penalty (“USP”) is imposed under the South African tax regime when SARS believes that a taxpayer has prejudiced the South African Revenue Service (“SARS”) or the fiscus by, for example, understating their tax liability, as contemplated in section 221 of the Tax Administration Act 28 of […]