LETTER: SARS defends performance of hidden assets amnesty
It is too soon, and irresponsible, to draw any conclusions on the SVDP, says Sandile Memela of the South African Revenue Service
SARS has noted the article, "SARS amnesty on hidden assets a flop", by senior editorial staff at Business Day, Hilary Joffe and Linda Ensor. SARS is concerned about the biased reporting approach which creates a negative perception of SARS and its work. The angle of the reporting continues to promote the perception that the revenue service is not performing, not living up to expectation and may not meet its target. As of today (21 August) the number of applications is close to 600. Business Day further reports that the Special Voluntary Disclosure Programme (SVDP) "had so far brought to light hardly more than a 10th of the nearly R40bn hoped for". The "sources" that Business Day relies on must be questioned, because up to date offshore assets to the value of R6.458bn have been revealed. What makes the Business Day narrative even more questionable is the fact that it relates to SVDP applications that were submitted up to July this year. It therefore excludes the values of SVDP applica...
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