Are you indebted to SARS, and unsure how to resolve it?
During pressing economic times, more and more businesses struggle to meet their statutory obligations as far as PAYE and VAT is concerned. SARS however increased the pressure from their collections department and business remains under severe cash flow pressure. As agents of SARS we as business owners remain responsible for these payments and need to always ensure that it takes priority.
Realistically we often come across businesses that had not been in a position to always meet these obligations and will receive threats from SARS’ legal department of judgement s and threats of liquidation against the business and the directors in their personal capacity. Most business owners are unaware that there actually is a solution for this debt.
Section 200 of the tax administration act
SARS has a section in the act called Section 200. This is a compromise to SARS and businesses are allowed the opportunity to enter into negotiations with SARS for the outstanding debt. There are specific unwritten rules to comply with in addition to the application form and you need a specialist to assist with this process
to ensure that this application is successful.
BNS GRoup can negotiate on behalf of clients . We do pride ourselves in providing this service, but more so in the systems and controls through good financial management that is being implemented to ensure that all future SARS obligations can be met and uncomfortable situations such as excessive debt with SARS can be avoided.