Specialist travel and hospitality insurance company SATIB Insurance Brokers is intensifying awareness of the risks posed by two very different but equally pressing threats: SARS tax audit disputes and catastrophic fire.
The insurance company will host a webinar at 10h00 this Thursday August 14 on managing the risks of SARS tax audits and related disputes through tax risk insurance in light of intensified enforcement of laws by the revenue collection agency.
Due to the latest national budget, SARS is facing increasing pressure to collect more taxes. And, with an increased budget allocation to bolster its tax collection capabilities, the agency has hired an additional 750 debt collectors aimed at meeting revenue targets, SATIB points out, stating the result is that companies can expect a considerable rise in audits.