The South African Revenue Service (SARS) has recently made an important announcement regarding the upcoming Filing Season. In line with their commitment to making the process easier and more convenient for taxpayers, SARS will be implementing auto-assessment for a larger pool of taxpayers this year. Additionally, they have introduced various digital platforms to facilitate seamless interactions with taxpayers. Here is an overview of the announcement and highlights the key points for taxpayers to take note of.
- Auto-Assessment for Taxpayers: SARS aims to streamline the Filing Season process by increasing the number of taxpayers who will be auto-assessed. Last year, approximately 3.8 million taxpayers were eligible for auto-assessment, and this year the number will increase to about 4.8 million. Auto-assessment means that taxpayers who agree with the assessment do not need to take any action. If a refund is due, it will be paid within 72 hours. However, if a taxpayer does not agree with the auto-assessment, they have the option to make changes and file their return manually.
- Filing Season Dates: It is important for taxpayers to be aware of the Filing Season dates to ensure timely compliance. The dates for different categories of taxpayers are as follows:
- Auto-assessment notices: 1 – 14 July 2024
- Individual taxpayers (non-provisional): 15 July 2024 – 21 October 2024
- Provisional taxpayers: 15 July 2024 – 20 January 2025
- Trusts: 16 September 2024 – 20 January 2025
- Digital Platforms for Easy Interactions: SARS has introduced various digital platforms to make it convenient for taxpayers to meet their obligations and engage with SARS without the need to visit branches or wait in queues.
SARS' announcement regarding the upcoming Filing Season highlights their commitment to making the process easier and more convenient for taxpayers. The implementation of auto-assessment for a larger pool of taxpayers, along with the introduction of digital platforms, aims to streamline interactions and reduce the need for physical visits to SARS branches. Taxpayers are encouraged to stay informed about the Filing Season dates and take advantage of the digital platforms provided by SARS for a seamless experience.
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