Sidney Fletcher, Senior Manager: Trust and Deceased Estate Tax Compliance at Tax Consulting SA, explains the critical changes in SARS’ approach to trust compliance.
In this Moneyweb interview, Sidney highlights the introduction of administrative penalties for trusts failing to submit tax and IT3(t) returns. He details SARS’ expanded reporting requirements, including beneficial ownership registers and resolutions for all trustee decisions.
Sidney’s insights shed light on how these changes align with global efforts to combat financial crime and ensure transparency. Compliance is no longer optional—it is essential for all trusts to act swiftly.
Read the full article to stay ahead of these changes: https://bit.ly/40PP2CQ
#TrustCompliance #TaxCompliance #SARSUpdates #TaxConsulting #TrustManagement #FinancialPlanning #StayCompliant
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