STERN message from SARS to taxpayers in South Africa

In a stern message from SARS to taxpayers, the revenue service has said as many as 925 000 tax returns are still unfiled. Time is ticking to meet Monday 23 October 2023’s tax return deadline, and those who do not submit in time will face costly penalties and even jail time.

MESSAGE FROM SARS TO TAXPAYERS

In an article published by Smart About Money, it says SARS imposed R4.26-billion worth of late penalties last year. So, the message is plain and simple, don’t fall foul of late income-tax submission this year and you will be fine.

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It’s worth noting that Monday’s tax deadline also applies to anyone who received a SARS auto-assessment notice. Just because you were auto assessed doesn’t mean you don’t need to file a tax return. Provisional taxpayers have until 24 January 2024 to submit.

5 MILLION RETURNS ALREADY SUBMITTED

SARS reports that more than 5 million taxpayers have filed returns, either personally or through auto assessment. Therefore, approximately 925 000 South African taxpayers must still submit their tax returns by Monday. The revenue service reiterates that its digital platforms like SARS eFiling are well-prepared for any last-minute filing rush.

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Smart About Money also says that non-registered South African taxpayers are not exempt from their tax-paying duties. SARS has been using income tax third-party data since last year to check if South African’s are in fact earning taxable money and should be rightfully registering taxpayers.

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As a result, SARS has implemented a scheme known as auto-registration and upwards of 212 000 individuals have been registered via this unique process. You will know if you’ve been auto-registered by receiving an SMS and a letter welcoming you as a registered SARS taxpayer.

BIG WIN FOR SARS

As unsavoury as tax penalties are, the message from SARS to taxpayers in SA has resulted in an additional 1.1 million payments. This, in turn, has brought in more than R1.35 billion to SARS’ coffers. SARS credits more than 500 000 income tax returns being filed as a result of penalties levied due to late submission.

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What do you think of the stern message from SARS to taxpayers in SA? Have you submitted yours and are you aware of the importance of income tax to the country? Be sure to share your thoughts with our audience in the comments section below. And don’t forget to follow us @TheSANews on X and The South African on Facebook for the latest updates.

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Please note that this article is for informational purposes only and should not be construed as financial advice. For help with your tax return seek counsel from a tax specialist.

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