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Are there possible penalties associated with becoming tax compliant?

Posted 4 November 2013

I want to become tax compliant. If I apply for a tax registration number, would I have to pay penalties for not being tax compliant during previous years?

TaxTim TaxTim says:
5 November 2013 at 9:43

In theory yes, but if SARS already knows about you then these penalties have already been accruing. You could always negotiate with them to cancel or reduce any penalties if they are there.

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