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SARS may take your money
March 13, 2018

Dryk Holdings (Pty) Ltd

Dear Valued Client,

In the midst of the financial year end for SARS, we always experience a very aggressive SARS related to debt collecting. This year, more than ever, SARS has increased its efforts for debt recovery of about R 16 billion.

SARS appointed 8 third party debt collectors for 2018, to recover all this debt.

Important … please do not pay your outstanding tax to any of this debt collecting agencies. Only use the applicable reference numbers provided by your accountant.

To take this debt recovery a scary step further…SARS do have the powers (according the Tax administration act) to instruct third parties to withhold your taxes and pay over to them.

The most common occurrence of this for business owners, will be your own bank that will be appointed and instructed to withhold your outstanding taxes. SARS must send you a final demand and provide notice herein for 10 business days. It does not always seem to be the case.

We had clients call us in shock about this, but nor we or the bank have the power to assist with this matter.

It is very important to act long before this happen. Prevention is much better than cure in this subject matter.

How can we assist you?

Contact us to assist with one of the following options to consider:

- Arrange a repayment plan with SARS for a period of 3 to 12 months

- Apply for a compromise with SARS – This option does need a consultation and review of your current situation

- Voluntary liquidation of the company - This option does need a consultation and review of your current situation

Feel free to contact us with your accounting, income tax or company start-up needs.

We appreciate you as our client or follower on any of our social media platforms.It's an honour to be of service to you.

Yours in Tax,

Jasper Basson
Dryk Holdings (Pty) Ltd

Member of Institute of Accounting & Commerce.
Member of South African Institute of Tax Practitioners.
Practice AO 652 993.

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