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SARS Reminds Taxpayers Of Approaching Deadlines

by Lorys Charalambous, Tax-News.com, Cyprus

25 January 2013


The South African Revenue Service (SARS) has reminded individual taxpayers of two important deadlines on January 31 - for the submission of 2012 income tax annual returns by certain provisional taxpayers, and for the payment of outstanding assessed tax by non-provisional taxpayers.

The first deadline is for the submission of 2012 income tax annual returns by provisional taxpayers who use the eFiling system. Provisional taxpayers are a smaller segment of the South African tax base, comprising any person who received an income other than a salary.

The second deadline is for the payment of outstanding assessed tax by non-provisional taxpayers who also filed their returns via eFiling, for whom the filing deadline was November 23, 2012.

As part of the range of incentives to use eFiling, taxpayers are given until January 31 to make payment on an assessed tax liability irrespective of when they submitted their returns, giving them up to seven months interest-free to make the payment. An important proviso, however, is that failure to make payment by January 31, 2013 will trigger back-dated interest.

As of January 21, 2013, SARS had received a total of just over 6m tax returns since the start of the 2012 Filing Season. Of these, almost 4.5m (a 13% increase from 2011) are for the 2012 tax season, and 1.6m (a 24% increase from 2011) are from previous years.

TAGS: South Africa | compliance | tax | tax compliance | tax authority | individual income tax | Africa

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