Selected for SARS Verification or Audit?
Here’s What to Expect, and What to Do
Most of us – even the most dutiful taxpayers - know the cold dread that accompanies receiving SARS correspondence, and it is never colder than when the notification states that you or your company have been selected for SARS verification or audit. Given some of the recent developments in terms of SARS’ powers and increased scrutiny of taxpayers, you will do well to remain prepared for the ever-greater possibility of being selected.
In this article, we take a look at what the difference is between a SARS verification and a SARS audit, what taxpayers can expect when going through the process - and what they should do to manage their risk if selected for verification or audit.