S.Africa: SARS is to fine 300,000 new companies for not submitting tax returns!

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[SARS is our stupid, greedy, revenue service feeding our wasteful, incompetant govt. I am wondering if this large number of firms not submitting tax returns is due to them not making money? I don’t know how anyone can make money in South Africa unless you’re black or Jewish or a communist. Jan]

SARS intends to fine 300 000 companies for non submission of their tax returns.

More than 500 000 new companies were registered in the past financial year, of which the vast majority did not submit returns. With this effort, SARS aims to rejuvenate its income.

Experts say it’s going to be an uphill battle for SARS to restore the situation with the current chaos that prevails.

Read the original article in Afrikaans on Die Vryburger

Source: https://southafricatoday.net/south-africa-news/sars-to-fine-300-000-companies/

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