SARS has completed the initial phase of matching information obtained through international exchange of information procedures with the SARS taxpayer database. This matching confirms that some accountholders may have used their accounts to evade South African tax liabilities.
Account holders who want to make use of the VDP programme are encouraged to submit their applications to the VDP unit on or before 12 August 2015. In the meantime SARS will continue analysing the data available to it, enhancing its audit capacity and will be ready to commence issuing audit notification letters from 13 August 2015.