Tax Insurance aimed at businesses, individuals and trusts. Legal defence and accounting cover is purchased which enables the client to engage top professionals to act on their behalf should SARS audit them and then following the audit, a dispute arises. Changes in legislation, including the Tax Administration Act, have highlighted the significance of managing business risks. The existence of effective internal controls, good corporate governance and qualified advisers are forms of risk mitigation, however, insuring these risks are at times the only real protection. No matter how proficient your accounting and IT functions, they are unlikely to ensure 100 percent compliance.
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