​When must the reconciliation detail be provided on the IT14SD reconciliation schedules?

  • When the “Reconciling difference” field on any of the following schedules exceeds R100, then it is mandatory for the Company to provide the detail(s) of the reconciliation differences in the Reconciling Items section of the IT14SD:
    -PAYE Reconciliation Schedule
    -Income Tax Reconciliation Schedule
    -VAT Reconciliation Schedule
     Output VAT declared for tax periods falling within the year of assessment
     Input VAT claimed for tax periods falling within the year of assessment

NOTE: The total of the amounts declared in the Reconciling Items section of the IT14SD must exactly match the value calculated in the Reconciling difference field of the relevant Reconciliation schedule.

  • If any of the 3 amounts declared on the Customs Reconciliation Schedules differ with more than R100 respectively, then it is mandatory for  the Company to provide the detail of the reconciliation differences in the Reconciling Items section of the IT14SD for:
    -Imported Goods: Provide details in the Reconciling Items section if applicable
    -Exported Goods: Provide details in the Reconciling Items section if applicable.
Last Updated: 03/05/2013 12:10 PM     print this page
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