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CRS assists SARS-embattled clients with tax advisory service

How CRS assists SARS-embattled clients with tax advisory service

In the current economic climate many cash-strapped businesses find themselves unable to pay their outstanding tax debt to SARS. Some try to put the problem on hold by not submitting a tax return, but according to Ian McAlister, General Manager of CRS Technologies, not only are the penalties for doing this severe and the interest charges really high, it’s also illegal.

“CRS has recently encountered new clients who’ve fallen foul of SARS through inadequate legislation and compliance assistance from their payroll supplier. Our solution was to forge an alliance with Tax Debt Compliance which offers a range of tax relief mechanisms that quickly puts the company back on track. Thereafter the way forward is painless.”

The tax relief mechanisms include:

  • Negotiation of affordable instalment agreements with SARS on behalf of the business;
  • Compromise applications to SARS which, if approved, will enable the business to settle tax debt at a reduced amount;
  • Tax due diligences to ensure compliance with South African tax legislation;
  • Formulation of tax opinions for businesses considering entering into complex transactions that could hold significant tax consequences.

Clients retain their assets and maintain their business operations

“The team at Tax Debt Compliance have many years of experience in this field,” McAlister continues. “To date, the company boasts a 100 per cent success rate in which it has helped numerous clients retain their assets and maintain their business operations.

“Companies can now focus on running their business with the peace of mind that their legislation, compliance and tax issues are in the capable hands of CRS Technologies and Tax Debt Compliance,” he concludes.

For more information, contact CRS by:  clicking here

 

Access to a tax advisory service during tax season adds value
Access to a tax advisory service adds value in a substantial manner during the annual tax season.

We all know the drill by now… around this time of the year, tax season, businesses have to ensure compliance with SARS legislation governing the submission of returns.

We also all realise that we are operating in a vastly different economic environment, in which many businesses are struggling with cash flow and unable to pay outstanding tax debt to SARS.

It is not surprising that many business owners choose to take the wrong route as a short-term solution and actually avoid submitting their returns.

Our partner and tax business continuity specialist Tax Debt Compliance is pretty clear when it comes to its advice on this issue: not only is it illegal, but not submitting a return will incur severe penalties and high interest charges for your business.

So what are operators to do? It is a bit of a catch-22 situation – not submitting may ease the pressure on cash flow (albeit temporarily), but it is not a true reflection of the state of the business and will end up costing more – however, submitting may be a stretch too far!

That is why we have partnered with Tax Debt Compliance to provide a tax advisory service.

How does this service help?

Well, it comprises a range of tax relief mechanisms:

  • Negotiation of affordable instalment agreements with SARS on behalf of your business;
  • Compromise applications to SARS which, if approved, will enable your business to settle tax debt at a reduced amount;
  • Tax due diligences to ensure compliance with South African tax legislation;
  • Formulation of tax opinions for businesses considering entering into complex transactions that could hold significant tax consequences.

These are the immediate benefits to clients looking for some kind of intervention and assistance with tax.

Not only does this mean you are actually being proactive in dealing with the challenges, you are also being realistic in terms of where the business is positioned and have a credible way of influencing the outcome.

Our tax advisory service is there to be used and to help… contact us now for more information!

Inspired, engaged and rewarded employees
CONTACT INFORMATION
Tel: +27 11 2594700
Email: info@crs.co.za

Centric House, Mellis Court, Mellis Road
Rivonia 2191