Expert Tax Management is the best way to comply!
June 21, 2021

The tax season for individual taxpayers in South Africa in 2021 will commence from 1st July – the question is will you be ready for it? Have you collected all your documentation, received the return and filled it in aligning with the documentation you are providing? Another even more pertinent question is, are you capable of doing an accurate tax return that complies with the requirements of SARS?

Not everyone is cut out to do this type of work, and that is precisely why there are specialists in this field who, for very reasonable fees, will complete these returns for you. If you don’t have the time, expertise or, quite frankly, the inclination to carry out such a tedious task, it is better to engage with one of these expert tax practitioners. 

The importance of tax compliance 

Whether we like it or not, total non-compliance with submitting an accurate tax return is an illegal offence. It is subject to some pretty hefty fines and, ultimately, potentially even a jail term. This is not a small thing in the Government’s eyes, and it is understandable because, without those who should be paying tax doing so, we simply would not be able to run the country. We all need to do our part, which means complying with the rules and regulations set out by the tax regulators and collectors – SARS.

The benefits of tax compliance 

Apart from avoiding the severe consequence of total non-compliance and the good feeling you get from knowing your tax contributions can make a difference, one benefit of tax compliance is also the avoidance of penalties for late submissions. This is 10% of the total tax payable plus 9.25% Interest which SARS will hold you accountable for.

Remember that you may have been overpaying for tax, and a great benefit of compliance, especially if you have had the assistance of a tax expert, is that you may be due for a rebate!

Let us assist you in managing your taxes 

We hope this has assisted you in some way. Platinum Business Services (PBS) offers an excellent tax management service, and it cannot be stressed enough how important a service like this is and how beneficial it can be. Getting the support of a professional can help you better understand how Tax Management is an effective tool to see a return on your investment. 

Importantly, tax season should not fill you with the same sense of dread as it used to. You should be aiming for the pain to be taken out of the administration work and rewarded with a good return with minimal costs owed to the Government.

Our plethora of tax management services include: 

  • Completion and submission of annual tax returns
  • Application for business & private tax clearance certificates
  • Follow up on tax assessments, and lodging objections to tax assessments
  • Follow up on tax assessments, and lodging objections to tax assessments
  • Registration and de-registration of tax (uif, paye, vat, income tax)
  • Salary structuring for employees tax
  • Application and arrangement of deferred tax payments
  • Application for section 22 tax compromise
  • Tax clean-ups to ensure compliancy with SARS, and current regulation (tax & companies act)

It is clear from this extensive list of services that tax compliance may be a bit more complicated than you estimated it to be, so contact us today to get the peace of mind of knowing that all your tax matters are professionally and expertly handled. After all – Tax management is the best way to comply! 

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