It happens that your tax debt just fall behind in such a way that there will be almost no possible way to settle it in total or it will be viable to arrange for a repayment of the debt.
Tax debt can include some or all the below:
- Income tax
- Value added tax
- Dividend tax
- Administration penalties
You can possibly apply with SARS for a compromise or settlement offer. SARS will only allow such an offer if it is clear from the financial statements that a company do not have a net asset value.
The net asset value of a company is the assets less liabilities.
The following documentation will be needed to apply for a compromise or settlement agreement with SARS.
Our fee for this application is R 8,500.