Launch of 2014 Tax Season
02 July 2014
Posted by: Author: SARS
Pretoria, 1 July 2014—The South African Revenue Service (SARS) today launches the 2014 Tax Season.
This annual campaign has evolved into an important partnership between government and taxpayers who make a vital contribution to our country’s tax system.It is a key indicator of how levels of tax compliance in the country continue to grow.
For SARS the Tax Season is also an important test of its capability to service a growing body of taxpayers.
Our tax policy framework has proven resilient throughout the period of global contagion since the financial crisis of 2008.
The balance between the three major tax types – Personal Income Tax (PIT), Value-added-tax (VAT) and Corporate Income Tax (CIT) – has provided a strong basis for our tax system to respond flexibly and sustainably to shifts in economic cycles.
Of the R899.8 billion in tax revenues SARS collected for the 2013/14 financial year, Personal Income Tax (PIT) - the tax type to which millions of working South Africans contribute – accounted for more than R310.9 billion, a third of total revenue collected.
In 2013 more than 15.4 million working individuals were on the PIT register. Of course not all these individuals are required to submit an income tax return to SARS.As a public institution, SARS’s journey is to modernise its system and become more efficient in its administration.
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