COVID-19

Voluntary Disclosure Programme (VDP) Application: The requirement of 'voluntary'

Due to the outbreak of the Covid-19, the government of the Republic of South Africa placed the country in a very strict and hard lock-down in an attempt to curb the spread of the Covid-19 infections.

The lock-down caused cash flow challenges for a sizeable number of companies as there were no or less trading activities taking place during the lock-down period. Many companies faced or are still facing the challenges which are causing the inability to meet obligations which include but not limited to paying employees, compliance with statutory obligations (i.e. paying taxes), etc.

Despite the tax relief measures that have been implemented by National Treasury to assist in alleviating cash flow burden, some taxpayers still find it hard, if not impossible, to comply with tax obligations as set out in the tax legislation.

For any assistance with the VDP application, please do not hesitate to contact us.