South Africa Shows Tax Compliance Improvement
by Lorys Charalambous, Tax-News.com, Cyprus
05 December 2014
On December 4, while reviewing the preliminary outcome of the 2014 tax season, the South African Revenue Service (SARS) confirmed that there has again been consistent growth recorded in the levels of tax compliance in the country, with a total of 5.32m income tax returns submitted.
It noted that 4.05m taxpayers (almost 95 percent) who were required to submit a tax return this year, did so on time. This is more than 10 percent higher than the 3.69m returns submitted in 2013.
The total of returns submitted in 2014 (including over 1m of outstanding returns from previous years) is marginally lower than the 6.09m total for 2013, but the decrease has been put down to the introduction of a higher submission threshold since the 2013 tax year.
In 2014, the new threshold means that taxpayers earning one source of income below ZAR250,000 (USD22,335) for the year, from one employer and with no refund claims, do not have to submit a tax return, although they still contribute to personal income tax through, for example, monthly PAYE deductions by their employers.
In addition, in 2014, 99.9 percent of returns were submitted electronically, and nearly 95 percent were assessed within 3 seconds. In addition, tax refunds of ZAR15.2bn were paid to 2.1m taxpayers and SARS paid 98 percent of all those refunds within 72 hours.
Of the 1.02m outstanding returns received from previous years, defaulting taxpayers paid SARS a total of ZAR436m in outstanding penalties.
To see today's news, click here.
Tax-News Reviews

A review and forecast of Cyprus's international business, legal and investment climate.

A review and forecast of Malta's international business, legal and investment climate.

A review and forecast of Jersey's international business, legal and investment climate.

A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »