With reference to BusinessTech’s article dated 9 July 2021, the South African Revenue Service (“SARS”) has sent letters to 275 high net-worth individuals (“HNWIs”) with financial assets abroad.
We have recently published a blog post alerting our clients to the newly established HNWI unit by SARS and forewarning of the said letters. Click here to view blog.
This is a kind reminder to please contact your tax practitioner assisting you with your tax returns and holding the login details to your eFiling to confirm whether you have received such a letter via your eFiling portal. If you have received such a letter, kindly let us know as soon as possible. It is vitally important to disclose facts and your factual matrix correctly to SARS aligning with OECD standards and international tax terminology. We shall be happy to assist as we have the in-house skills and expertise to deal with the response to SARS in collaboration with your tax practitioner.
Please contact Suzanne Smit if you have received such a SARS letter: suzanne@fidelisvox.co.za.
This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE)