Print Page   |   Report Abuse
News & Press: SARS News & Tax Administration

Deadlines approaching

24 January 2013   (0 Comments)
Posted by: SAIT Technical
Share |

By SARS Media Release

Executive summary

31 January 2013 is the deadline for provisional taxpayers to submit their ITR12 tax returns on efiling. It is also the deadline is for the payment of outstanding assessed tax by non-provisional taxpayers who filed their returns via eFiling, for whom the filing deadline was 23 November 2012.

Full article

SARS would like to remind taxpayers of two important deadlines on 31 January.

The first is the deadline for submission of 2012 income tax annual returns (ITR12) 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 income which does not constitute remuneration (i.e. receive an income other than a salary).

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

As part of the range of incentives to use eFiling, taxpayers are given until 31 January 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 31 January 2013 will trigger back-dated interest.

As of 21 January 2013, SARS had received a total of 6,080,554 Tax Returns since the start of the 2012 Filing Season. Of these, 4,496,054 (a 13 % increase from 2011) are for the 2012 Tax Season, and 1,584,500 (a 24 % increase from 2011) are from previous years.

Of the returns received to date, approximately 15.9% (927,810) resulted in an additional tax liability totalling R7.21 billion which is R348 million (6.9%) more than the R3.45 billion paid in 2011


WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

Membership Management Software Powered by YourMembership  ::  Legal