Latest / Tax Break: South African tax for professionals
Section 99 prescription: When can SARS reopen a tax assessment after three years? CSARS v Meiring Citrus
When does prescription protect taxpayers from SARS issuing additional assessments? Section 99 of the Tax Administration Act generally bars SARS from issuing an additional assessment more than three years after the original assessment issued by SARS. Section 99(2) lifts that bar where the tax was not assessed due to fraud, misrepresentation or non-disclosure of material facts.
In this episode of Tax Break, I discuss the prescription aspect of the Western Cape High Court judgment in CSARS v Meiring Citrus (Pty) Ltd. SARS issued additional assessments roughly three and a half years after the…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.