n Tax Breaks Newsletter - Another chance to fix excon breaches - at a price : exchange control

Volume 2005, Issue 236
  • ISSN :



Extracted from text ... EXCHANGE CONTROL Another chance to fix excon breaches - at a price By KATHY THERSBY BY ALL accounts, there are many taxpayers who now regret not having taken advantage of the exchange control and accompanying tax amnesty offered by SARS until the end of February 2004. At the time, a large percentage of those taxpayers with illegal funds abroad were very wary of the amnesty, suspicious of Revenue's motives and afraid to expose themselves to unforeseen problems by owning up to their excon contraventions. They adopted a wait-and-see attitude but found that by the time they were comfortable enough ..

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