Rules released for small business amnesty
Draft regulations released by the SARS prescribe the circumstances under which the Receiver may waive additional taxes, penalties and interest for businesses that qualify for the small-business tax amnesty.
The proposed legislation is in line with President Thabo Mbekis promise last year to reduce the cost of doing business to help encourage the growth of smaller enterprises, says a Business Day report. SARS spokesperson Adrian Lackay said the measures would apply to small businesses that had already provided returns to SARS. Also included were those who had been assessed by the Receiver for taxes, since full amnesty was not available for these taxes. Lackay said that as the objective of the amnesty process was to help normalise the tax affairs of small businesses, a partial waiver of outstanding tax debts had been proposed. Full Business Day report Guidelines on SARS site