Definition
A SARS facility allowing a taxpayer to disclose a previous customs or tax default, such as underpaid duty or VAT, in exchange for relief from understatement penalties and possible criminal prosecution. The disclosure must be voluntary, complete and made before SARS begins an audit of the matter. The outstanding duty and interest generally still become payable.
Frequently asked questions
What is Voluntary Disclosure Programme (VDP)?
A SARS facility allowing a taxpayer to disclose a previous customs or tax default, such as underpaid duty or VAT, in exchange for relief from understatement penalties and possible criminal prosecution. The disclosure must be voluntary, complete and made before SARS begins an audit of the matter. The outstanding duty and interest generally still become payable.
Which glossary terms are related to Voluntary Disclosure Programme (VDP)?
Voluntary Disclosure Programme (VDP) is a customs & sars term in the South African import/export industry. Related terms in the same area include 70707070 (Customs Code), Ad Valorem Duty, AEO (Authorised Economic Operator), Anti-Dumping Duty, B-BBEE (Broad-Based Black Economic Empowerment) — each has its own plain-English definition in the TradeCaravan glossary.