SARS has announced the Voluntary Disclosure Programme (VDP)

By Shirley Combe | October 8, 2016

Pay Solutions strive to bring you the latest in updates and changes from government departments and SARS.

SARS has announced the Voluntary Disclosure Programme (VDP) will begin on the 1st October 2016. Please read carefully to ensure this applies to you.

VOLUNTARY DISCLOSURE PROGRAMME (VDP)

The SARS Voluntary Disclosure Programme (VDP) is administered under the Tax Administration Act, 2011 with effect from 1 October 2012.

Subject to legislative approval, a Special Voluntary Disclosure Programme (SVDP) commenced on 1 October 2016, and is scheduled for a period of nine months ending on 30 June 2017. The SVDP is meant for individuals and companies who have not in the past disclosed tax and exchange control defaults in relation to offshore assets. A preliminary SVDP guide is available below, which will be updated from time to time.

To assist you with your VDP queries, some questions and answers have been put together. For more detailed information, please consult the Guide at the bottom of the page.

Contact details for the team are available at the bottom of this page.

Media statement issued on 30 September 2016 – Launch of the Special Voluntary Disclosure Programme
Media statement issued on 20 July 2016 – Special Voluntary Disclosure Programme in respect of offshore assets and income: Request for public comments (see the Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill, 2016, the Draft Rates and Monetary Amounts and Amendment Laws (Administration) Bill, 2016 and the Draft Explanatory Memorandum on the Special Voluntary Disclosure Programme in respect of offshore assets and income)
Media statement issued on 12 April 2016 – Special Voluntary Disclosure Programme in respect of offshore assets and income: Request for public comments (see the Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill, 2016 and the Draft Rates and Monetary Amounts and Amendment Laws (Administration) Bill, 2016)
Media statement issued on 24 February 2016 – Special Voluntary Disclosure Programme in respect of offshore assets and income
Media Release issued on 02 February 2016 – SARS continues crack down on non-compliance in cash ‘n carry sector.
Media Release issued on 9 July 2015 – Foreign bank account holders are encouraged to make use of the Voluntary Disclosure Programme and file their VDP applications on or before 12 August 2015.

Questions	Answers