A Fin24 user writes:
How can they charge penalties on income tax returns when you don't have money in the bank?A PwC expert responds:
Financial penalties are aimed at encouraging compliance and can be avoided if your tax returns are filed on time.
Anyone who is aggrieved by a penalty assessment may request the South African Revenue Service to remit the penalty. However, valid reasons should be provided for late filing in such a case.
* Visit our 2013
for full coverage of Finance Minister Pravin Gordhan's
National Budget speech.
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