May 16, 2023

SARS updated the bulk and additional payments on eFiling from 8 May 2023. The Payment Reference Number (PRN) that comes through admin penalty for the bulk payment will be rejected if it is processed incorrectly – You can read the updated guide to Bulk and additional payments on eFiling here.

The SARS Third-Party Data Annual Submissions for the 2023 financial year will close on 31 May 2023.   On 8 May 2023, SARS received only 35% of the expected submissions for this period. SARS urges taxpayers to make ahead of the due date to avoid last-minute challenges and potential delays. For more information, refer to …

The deadline for the third-Party Data Annual Submissions is fast approaching Read More »

SARS released e@syFile version 7.3.4 on 8 May 2023, including an updated SARS Letter template for audit letters BEPAYE06 and BEPAYE07 in the Notification Centre. You can read the latest release notes here.

SARS has recently identified a concerning trend of dubious registrations among VAT vendors. Due to escalating potential for fraud relating to VAT registrations, on 11 May 2023 SARS announced the following to be implemented with immediate effect: SARS is fully prepared to pursue criminal charges against offenders. You can read more in the media release …

SARS introduces more rigorous verification process for VAT registrations Read More »

On 5 May 2023, the Minister of Finance issued a Notice providing tax exemption for bulk payments made by the fund administrators to former members of closed retirement funds in terms of section 2D of the Second Schedule to the Act. Qualifying payments must meet all requirements specified in the notice: Note that this will …

Last chance Tax Exemption on bulk payments made to former members of closed retirement funds Read More »