Voluntary Disclosure in South Africa, 2nd edition | KPMG | ZA

Voluntary Disclosure in South Africa, 2nd edition

Voluntary Disclosure in South Africa, 2nd edition

Voluntary disclosure in the South African context often involves two processes that go hand-in-hand, namely 1) the voluntary disclosure of tax defaults; and 2) the regularization of Exchange Control (“Excon”) contraventions.

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This edition showcases the differences between VDP and SVDP for taxpayers and the criteria for VDP relief for taxes administered by SARS (excluding Customs and Excise Duties), penalties and procedures and qualifying criteria

Why KPMG South Africa?

KPMG has assisted numerous clients with VDP applications relating to all qualifying taxes, and is well placed to deal with the regularization given:

  • Our global reach and collaboration with other KPMG offices (including KPMG Switzerland)
  • Established relationships with foreign banks e.g. Swiss banks
  • Registered as the preferred service provider for certain Swiss banks
  • Relationships with the SARS VDP unit and SARB Financial Surveillance Dept.
  • Deep experience with relation to earlier VDP programmes and how SARS and SARB approach such applications
  • Established and well-staffed VDP team with strong Tax VDP and Exon regularisation expertise

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