Enhanced refund process
20 February 2014
Posted by: Author: SARS Legal and Policy
Author: SARS Legal and Policy
Since 2011, the South African Revenue Service (SARS) in consultation with the Law Society of South Africa (LSSA) has been introducing changes to the Transfer Duty process to improve efficiency, compliance and to reduce risk to conveyancers and SARS. The ultimate goal being improved benefits and easier management of transactions for conveyances. These changes have been in a phased manner so as to ensure the minimum impact on the work of conveyancers.
Following the introduction of the electronic submission of Transfer Duty declarations and the eAccount for Transfer Duty (a self-help facility on eFiling), SARS has further enhanced the Transfer Duty system with respect to refunds.
Due to the considerable risks and delays associated with the use of manual cheques, as from 17 February 2014, SARS will no longer process manual requests for Transfer Duty refunds. Conveyancers must from now request refunds for a cancelled Transfer Duty declaration via eFiling using the eAccount management-Refund function.
The eAccount function offers quicker access to credits on the account and enables the conveyancer to:
- Request a refund
- Reallocate a credit to another debit
- Request an interim statement of account.
Top Tip: When you request a refund, a screen message will appear requesting you to verify your banking details in person at the nearest SARS branch as soon as possible. This will be a once-off requirement for the specific account in order to ensure the correct banking details is being used.
The following supporting documents with your financial account number will be required when visiting the SARS branch (the list can also be found in the "Guide for Transfer Duty via eFiling”):
For more information consult the Guide for Transfer Duty via eFiling, call the SARS Contact Centre on 0800 00 (SARS) (7277) or visit your nearest SARS branch.