Taxpayers must apply to the tax authorities before 1 August 2013

A tax amnesty became effective on 25 March 2013 with respect to all federal tax, social contributions and certain customs duties liabilities incurred before 1 March 2013.

Withholding tax, health care and tax prepayment liabilities are not within the scope of the regime.

The amnesty does not provide for any reduction in the tax debt.

Instead, it allows taxpayers to pay the aggregated debt, interest and penalties in up to 120 monthly installments at a monthly interest rate of 1.35%.

The opinions expressed do not constitute investment advice and specialist advice should be sought about your specific circumstances.

Published on our website on May 22, 2013