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Are bank statements proof?

Posted 10 February 2013 under Tax Questions


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SARS refused ALL my expenses! Now they want proof of payments of my expenses. I keep all my bank statements as it is easier to do my return and no invoices go missing. Will they accept my bank statements?

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TaxTimTaxTim says:
10 February 2013 at 22:17

They may, you would need to indicate on the bank statements exactly what the amount and expenses was however they may still insist on the invoices. If you can get them it would make things a lot easier as they are trying to establish that the expenses are legitimate as business and not personal.


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