What Is The Voluntary Disclosure Program (VDP)?
Xelous provides various SARS VDP Services. SARS has made the VDP available to qualifying tax payers that want to regularize their tax affairs. The VDP can grant relief from penalties and possible criminal persecution due to non-compliance.
Tax defaults range from submitting inaccurate or incomplete information or the failure to submit information to SARS.
A VDP application can be submitted in relation to any tax type that SARS administers, excluding duties and levies charged under the Customs and Excise Act.
Xelous VDP Services
Xelous offers a VDP concierge service which is comprehensive support for taxpayers intending to voluntarily disclose and regularize their tax affairs. Before, during and after the submission process.
Our Process
Initial Assessment And Information Gathering
We start with a thorough assessment of your tax and financial history to determine your eligibility for the VDP. We also provide guidance on other corrective tax avenues if the VDP is not the best solution for your circumstances or if you are not eligible for the VDP.
VDP Strategy Crafting
After we obtained a sufficient understanding we start to craft a tailored VDP strategy with you that aligns with your specific circumstances, ensuring your disclosure will be both comprehensive and compliant.
Accounting Preparation
With your assistance, we prepare all accounting information and supplementary documentation in anticipation of VDP application submission. This step can involve supplementing, reworking or first time recording of financial information.
We apply our internal audit techniques to your accounting and supplementary information to ensure accuracy and completeness. Our years of experience is crucial here in identifying aspects SARS will focus on and ensuring complete readiness.
Submission Of VDP
Navigating the VDP application process demands not just accuracy but also strategic communication with SARS. We manage the submission process on your behalf, liaising with SARS to address any queries or requests for additional information.
Should the need arise, we are adept at negotiating terms that favor a positive outcome for our clients.
Ongoing Support
We offer ongoing support throughout the SARS review process and beyond, including advisory services to ensure future compliance and mitigate the risk of recurring tax defaults.
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Start the VDP process now
Contact us
Don’t navigate the VDP alone. Contact Xelous today for expert assistance in regularizing your tax affairs with confidence. Our dedicated team is ready to provide the personalized support you need to ensure your VDP application is successful.
SARS VDP Requirements
A SARS VDP application will only be successful if it meets the following requirements: The disclosure must be voluntary The VDP program is no longer a viable option after SARS has identified any non-compliance through their own audit procedures. In these cases, Xelous will assist and support in identifying other…