As the South African Government gears up to collect more taxes, the South African Revenue Service has responded with more audits. This significantly raises the stakes for your clients, who now face greater risk and more rigorous technical scrutiny. And it's not only the few intentional tax evaders who are at risk; anyone who pays tax can be selected for audit. Many audits result in incorrect or unjustified tax reassessments with SARS unfairly demanding additional payments.
Disputing an unfair tax assessment is time-consuming, stressful, and costly. Even if your client ultimately prove that they owe no additional taxes to SARS, they will still be responsible to pay the professional fees of their tax accountants and lawyers. Tax Risk Insurance offers an excellent safeguard, covering the costs of a skilled team of tax professionals to manage the case. This includes your client's own trusted accountant, who will play an integral role in the defence team.
- Having a great tax accountant does not guarantee that your client wouldn't get selected for audit. Tax Risk Insurance removes the uncertainty of an unexpected SARS tax audit or dispute.
- Cover is retrospective, and there are no waiting periods. Your client is protected no matter how far back SARS goes.
- For a very affordable premium your client will have access to some of South Africa's best tax accountants, tax attorneys and other tax specialists.
- Taxpayers have rights, but they need to know how to enforce those rights when faced with an audit or dispute with SARS.
- We appoint and pay for a team of highly qualified tax professionals to act on your client's behalf in the event of a claim. His / her own tax accountants will form a central part of this team, and we will pay their fees for the duration of the claim.
