Speak to your accountant now if you are in any doubt about whether or not you should take advantage of the SVDP (Special Voluntary Disclosure Programme).
Firstly, the deadline is 31 August, and an application will take time to prepare.
Secondly, “automatic exchange of tax information” will, from next month, see tax authorities from over 50 countries (set to grow to over 100 by September 2018) automatically reporting to their counterpart tax offices - including SARS - on, amongst other things, bank accounts and investments held by their nationals. Both tax and Exchange Control contraventions will be under the spotlight.
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