SARS is cracking down on non-compliance and focusing on individual taxpayers to detect discrepancies in tax returns.
SARS is cracking down on non-compliance, and experts say there’s an increased focus on individual taxpayers through revenue augmentation to sniff out discrepancies in tax returns.it seems more taxpayers are being asked to explain deposits in their bank accounts in an effort to win the war against non-compliance.
For 2024/25, SARS plans to continue building on this, using advanced technology like artificial intelligence, machine learning, and virtual platforms to make tax compliance easier for everyone. Unsatisfactory explanations may result in additional assessments, estimated tax amounts, or even significant penalties.
“For the taxpayer to fend off that assessment often takes weeks of data crunching and evidence collection.
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