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SA Revenue Service Reviews

 

Exposure to risk management from a tax perspective and dealing with financial crimes

The role is mainly economic research at a sector and industry level. But it also entails analysis of the biggest players in the financial services sector (long and short term insurance, asset management, real estate and professional services). Daily tasks is to identify and monitor economic news / developments / events, determine how these, as well as, financial transactions entered into will affect (risk assessment) collection of tax revenue as stated by the Finance Minister in his budget speeches. Ascertain tax compliance levels in the industry / sectors and to recommend remedial action(s). It also involves visiting tax payers to establish their views on the performance of their companies and the industry / sector, as well as on their future prospects. Weekly attendance of tax risk committee to recommend cases to be referred for audits. Identification and investigation of tax avoidance structures, especially in respect of BEPS and transfer pricing.

Pros: More about the economics of tax
Cons: Little in respect of legal and compliance.

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Gain new knowledge and insights

I like the surroundings and environment at these premises, park-like atmosphere, the fresh air and being away from all the hustle-and-bustle of the city. the working environment is a bit challenge because the public service culture is quite different to that of the private sector. The only real challenge is that since I'm seeking a return to Regulatory / Compliance Risk, such opportunities are based at Head Office (Pretoria) only, but it is understandable. I want to return to the Compliance field after realising that working with tax is neither my passion nor forte. I have about 10 years Compliance experience and hold the necessary qualification. At the moment I am working as a Specialist: Intelligence for the financial services industry at the SA Revenue Service. thank you and kindest regards.

Pros: Learnt quite a lot about the majr industries and economic sectors, and how regulators approach risk management issues.
Cons: coming fron the role of Head of Compliance, i find the current role to be too operational.

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To learn investigations and other risk approach methods

Being up to date with economic, political, and social developments both internationally and domestically. Scanning for and identifying financial transactions that could impact (either) on tax revenue collection; identifying tax planning schemes and arrangements which could constitute tax avoidance.

Pros: Great opportunity to learn.
Cons: Politically charged

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