Selected for SARS Verification or Audit? Here’s What to Expect… and What to Do
A number of recent tax developments strongly indicate that taxpayers will face even more intense scrutiny from SARS in this new tax year. Most recently, an additional R3 billion was allocated to SARS in the 2021 Budget Speech “to improve technology, data and machine learning capability and upskill SARS officials to improve the efficiency and effectiveness of SARS”.
This will include expanding specialised audit and investigation
skills and establishing another specialised audit unit for investigations into the tax affairs of high net worth individuals with highly complex financial structures,