The South African Revenue Service (SARS) has recently announced significant changes for the upcoming Filing Season. To enhance convenience and ease for taxpayers, SARS will expand the auto-assessment process to include a larger number of taxpayers this year. Furthermore, they have introduced several digital platforms to ensure smooth and efficient interactions with taxpayers. Here is a summary of the announcement, highlighting the key points taxpayers should be aware of.
1. Auto-Assessment for Taxpayers: SARS is set to simplify the Filing Season by expanding the auto-assessment process to cover more taxpayers. Last year, around 3.8 million taxpayers were eligible for auto-assessment, and this year, that number will rise to approximately 4.8 million. Auto-assessment means that taxpayers who agree with the assessment do not need to take any action. Refunds, if due, will be processed within 72 hours. However, if a taxpayer disagrees with the auto-assessment, they can make adjustments and file their return manually.
2. Filing Season Dates: Taxpayers should take note of the Filing Season dates to ensure they comply on time. The dates for various categories of taxpayers are as follows:
Auto-assessment notices:
1 - 14 July 2024
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Individual taxpayers (non-provisional)
15 July 2024 - 21 October 2024
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Provisional taxpayers:
15 July 2024 - 20 January 2025
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Trusts:
16 September 2024 - 20 January 2025
3. Digital Platforms for Easy Interactions: SARS has launched several digital platforms to facilitate convenient taxpayer engagement and compliance. These platforms allow taxpayers to fulfill their obligations and interact with SARS without needing to visit branches or wait in queues.
SARS’ announcement for the upcoming Filing Season underscores their dedication to simplifying and enhancing convenience for taxpayers.
Expanding auto-assessment to a larger group of taxpayers, combined with the launch of digital platforms, is designed to streamline interactions and minimize the necessity for physical visits to SARS branches.
Taxpayers are advised to stay updated on the Filing Season dates and utilize the digital platforms offered by SARS for a smooth and efficient experience.
This article has been reproduced by courtesy of Nexia-SAB&T.
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