Prescription Rules: When does tax debt expire?
Debt is one of the most unfortunate aspects of life that everyone ultimately deals with. Where normal consumer debt generally prescribes after three years, tax is somewhat different. For one, should you be sequestrated, the South African Revenue Service (“SARS”) is a preferential creditor and will be paid before many other debts are settled. But what is the legal timeline SARS has to pursue you for the recovery of outstanding tax debt?
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