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SA Tax Advisers May Be Liable For Avoidance Schemes Under SARS Proposal

by Robert Lee, for LawAndTax-News.com, London

03 June 2005


According to reports in the national media this week, tax advisers in South Africa may become liable for the tax avoidance schemes that they sell to their corporate clients.

Under a proposed new general anti-avoidance clause for the Income Tax Act currently being formulated by the South African Revenue Service (SARS), accounting firms, tax professionals and merchant banks which push tax avoidance schemes would face legal penalties for doing so for the first time.

According to the Business Day news service, speaking to the Parliamentary finance committee, SARS official Ed Liptak revealed that the drive to aggressively minimise taxes is often not led by companies themselves, but by the marketers of such schemes, and referred to the fees charged by providers of corporate tax avoidance schemes as "shocking".


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