How can one complete an IT3(b) tax certificate?
11 February 2015
Posted by: Author: SAIT Technical
Author: SAIT Technical
Q: Please assist me with the following query:
have to compile an IT3(b) tax certificate for my client who paid out interest
to the entity’s shareholders. Please could you provide me with some guidance as
to how I should go about it?
A: You mentioned that
your client must issue IT3(b) tax certificates.
These are so-called
third party returns dealt with in section 26 of the Tax Administration Act
Section 26(1) states:
The Commissioner may by
public notice, at the time and place and by the due date specified, require a
person who employs, pays amounts to, receives amounts on behalf of or otherwise
transacts with another person, or has control over assets of another person, to
submit a return by the date specified in the notice.
The public notice can be
I would advise you to first go
through the entities listed in the public notice to ensure your client is even
obligated to submit those returns to SARS.
Assuming your client is
required to submit the returns, this can be done via efiling, but limited to 20
yourself with the 2 documents below to help you submit the IT3s to SARS via
Third party data
enrolment and activation on eFiling
2014 Guide to third party data IT3(b,c,e) submission via efiling
Here’s the part of the SARS website where extensive information is provided
regarding IT3 submissions:
Disclaimer: Nothing in this query and answer should be construed as
constituting tax advice or a tax opinion. An expert should be consulted for
advice based on the facts and circumstances of each transaction/case. Even
though great care has been taken to ensure the accuracy of the answer, SAIT do
not accept any responsibility for consequences of decisions taken based on this
query and answer. It remains your own responsibility to consult the relevant
primary resources when taking a decision.