Liquidation gets rid of SARS

LIQUIDATION will write off the SARS debt completely

WITH A COMPROMISE WITH SARS YOU WILL:

          

a. Wait for a year or more to get an answer from SARS

b. Penalties and interest still run during that period          

c. And, if, and that is a big if, SARS will allow a compromise, they will expect an unrealistic payback term.

          d. Plus, you still have to pay the debt

A director or member is not personally liable for the VAT of a Company or Close Corporation IF YOU LIQUIDATE THE BUSINESS TIMEOUSLY.

SARS cannot take criminal action against a director or member for VAT. Read these articles that explains why “owing VAT to SARS is not a crime” as well as the article “Owing VAT is not theft”.

 

Liquidation writes the debt off

 

Once the Company or Close Corporation is liquidated, all debt, even the SARS debt is written off.

We have done hundreds of liquidations and no director/member was ever held personally liable by SARS.

from any director or member of any of the businesses that we have liquidated.

 

Customs and Excise Act

 

The only tax that is not written off in a liquidation is taxes owed under the Customs and Excise Act.

The manager of the premises remain personally liable for these taxes.

SARS TAX COMPROMISE AND RELIEF
Tax what?

If you have applied for tax compromise, you will find that it takes very long (whilst interest and penalties still run) and SARS usually comes back with an unrealistic payback term if they do compromise for you.  During that time, your business is probably still not able to pay the debt and even if SARS accepts a compromise, the business still has to pay the debt back.
Liquidation will have the result that you do not have to pay any arrear taxes, penalties and interest back and the business can flourish without the debt.

LIQUIDATION WRITES THE SARS AND OTHER DEBTS OFF AND ALLOW YOU TO START WITH A CLEAN SLATE

WE UNDERSTAND LIQUIDATION WELL.

F.A.Q

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