24 April 2024 – The Mandatory Disclosure Rules (MDR) process has been designed to improve compliance within the Common Reporting Standard (CRS). The process aims to identify practices of tax avoidance and opaque offshore structures that attempt to circumvent the reporting.
The functionality can receive and send information on reportable arrangements to improve compliance and the quality of data received within CRS. SARS will be able to receive declarations from local and foreign intermediaries based on prescribed rules, and send out validated reports in line with Automatic Exchange of Information (AEOI) standards.
A new webpage and eFiling guide have been published:
