n Tax Breaks Newsletter - Proposed amendments to the rules of prescription : legislation
|Article Title||Proposed amendments to the rules of prescription : legislation|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Affiliations||1 ENSafrica and 2 ENSafrica|
|Publication Date||Dec 2015|
|Pages||5 - 7|
A fundamental reason for the existence of the rules of prescription in our tax law is to provide a taxpayer with certainty as regards its tax position. It is therefore important that such rules are clear and not subject to unfettered discretions. In disputes with the SARS Commissioner, prescription is a powerful defence available to compliant taxpayers, allowing them to bring finality to their tax assessments.
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