Expansion of banks’ power to hold funds on suspicion of a tax offence

The 2017 draft Taxation Laws Amendment Bill and draft Tax Administration Laws Amendment Bill were released for comment on 19 July 2017. Section 190(5A) of the Tax Administration Act, 2011 requires a bank to immediately report to SARS if it has a reasonable suspicion that the payment of an amount is …

http://www.polity.org.za/article/expansion-of-banks-power-to-hold-funds-on-suspicion-of-a-tax-offence-2017-08-15