Budget 2021

Budget 2017 could mean more tax audits - expert

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Cape Town - South African tax payers and companies better beware that an increased revenue budget is likely to bring an increase in tax audits, according to Mmangaliso Nzimande, Africa tax controversy leader at EY.

Treasury indicated in the mini budget last year that it will raise an additional R28bn through taxes.

"Any increase in tax rates or implementation of a new tax will likely result in increased audit activity by the SA Revenue Service (SARS). The new administrative requirements on taxpayers and increased audit activity will be governed by the Tax Administration Act," said Nzimande.

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