Tax

20 March 2023 USSD or quick codes as it is known, is a new feature available to taxpayers. Taxpayers can now request specific Personal Income Tax related services by typing in a USSD string *134*7277# into their mobile devices to SARS. The benefits are that it is free of charge and you don’t need to …

SARS launched New free USSD service available for taxpayers Read More »

10 March 2023 The diesel refund system was implemented in 2000 to provide full or partial relief for the general fuel levy and the Road Accident Fund (RAF) levy to primary sectors. The refund system is in place for the farming, forestry, fishing and mining sectors. In light of the current electricity crisis, a similar …

Comment on proposed amendments to customs and excise schedules and forms Read More »

8 March 2023 The Income Tax Act provides specifically that certain amounts expressed in a foreign currency must be translated into rand by the application of an applicable average exchange rate. The South African Reserve Bank (SARB) determines weighted average exchange rates, based on the foreign exchange transactions of commercial banks. SARS publishes these rates on a quarterly …

Updated Average Exchange Rates Read More »

10 March 2023 Beware of the latest email scam saying that a letter of demand which requires your attention has been issued and telling you to click on the link to open the letter.  Please ignore and don’t click on any links.  If in doubt, please send an email to phishing@sars.gov.za. See an example of the …

Beware of the latest scam Read More »

10 March 2023 An Authorised Economic Operator (AEO) is a company involved in the international movement of goods and approved by SARS Customs as complying with the World Customs Organisation or equivalent compliance and supply chain security standards. AEOs may include manufacturers, importers, exporters, brokers, carriers, consolidators, intermediaries, ports, airports, terminal operators, integrated operators, warehouses, …

Become an Authorised Economic Operator (AEO) and enjoy the benefits Read More »

6 March 2023 Section 1.1, Paragraph (b) (xii)(bb) of the definition of “retirement annuity fund” in section 1(1) of the Income Tax Act has been amended to allow for transfers between Retirement Annuity Funds (RAF). The effect of the amendment is that the word “total” is deleted, and the following conditions are inserted: However, there is …

Amended definition for “retirement annuity fund” in the ITA Read More »

6 March 2023 SARS invites you to a webinar to engage Small, Micro, and Medium Enterprises (SMMEs) about various domestic and cross-border incentives available to help them grow their businesses. The webinar will also touch on revenue compliance obligations and help Traders understand their responsibilities before the SARS financial year-end. The details of the webinar …

Invitation to a webinar on the SARS Administered Incentives Read More »

8 March 2023 President Cyril Ramaphosa and the Public Officers for Ntaba Nyoni Estate and Ntaba Nyoni Feedlot provided consent to SARS to make a public statement on their Tax Compliance Status. SARS can select individuals for inspection, verification, or audit based on any relevant consideration, including random or risk assessment. The taxpayers were selected …

Public statement on President Ramaposa’s tax compliance Read More »

8 March 2023 The facility codes used in Box 30 on the Customs Clearance Declaration (CCD) were updated with a name change of transit shed P2 in ORTIA from Lonrho Logistics (PTY) Ltd. to PCA Logistics (PTY) Ltd. The Facilities code list is an annexure to the External Policy for the Registration, Licensing, and Designation. …

Updated Facility Codes in the Customs Clearance Declaration Read More »

8 March 2023 The dates when mobile tax units are scheduled to be set up in Limpopo during March and April have been published. The SARS Free State and Northern Cape region has set up several Mobile Tax Office visits and workplace visits to ensure easy access to SARS delivery services and products. This is …

Mobile tax units and educational workshop schedules: Limpopo /Free State /Northern Cape Read More »