The South African Revenue Service has so far successfully concluded 10,170 applications at an agreed value of at R9.5bn under the permanent voluntary disclosure programme launched in October 2012.This programme is separate from the special voluntary disclosure programme initiated last year, which terminates on August 31. The aim of this special programme was to give noncompliant taxpayers an opportunity to regularise their unauthorised foreign assets and income by voluntarily disclosing information.A total of 10,764 applications had been made under the permanent voluntary disclosure programme, SARS head of research Randall Carolissen said. This programme also aims to encourage taxpayers to come forward on a voluntary basis to regularise their tax affairs and avoid the imposition of penalties.Carolissen and SARS officials appeared before Parliament’s standing committee on finance to provide an update on its performance and answer MPs’ questions.He noted that up until April the averag...
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