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News & Press: SARS News & Tax Administration

Launch of 2014 Tax Season

02 July 2014   (0 Comments)
Posted by: Author: SARS
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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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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.

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