FAQ: What is the retrospective date of approval for Public Institutions?
The Commissioner may approve a public institution retrospectively. Each case is decided on its own merits, considering compliance with the provision of the specific legislation.
FAQ: Which supporting documents are required to be submitted by the applying Public Institutions?
Enabling legislation (Government gazette ) Certified ID copy of the accounting officer or representative taxpayer Proof of business address Letter from the bank with bank stamp indicating the banking details of the institution
FAQ: Which forms need to be completed by the applying Public Institutions?
An EI1 application form together with supporting documents must be submitted to SARS.
FAQ: Which Public Institutions have to apply for tax exempt status?
Public institutions that do not have a provision in the Income Tax, which provides for exemption of its receipts and accruals, will have to apply for approval. Public institution should apply for exemption from Income Tax as they are not automatically exempt, and requires the SARS Commissioner’s discretion to grant exemption from Income Tax as […]
FAQ: Which Public Institutions have to register for Income Tax?
Public institutions will have to register for income tax where they become liable for income tax, or where they have to register for income tax. Public institutions will generally fall under a list of entities that have to file annual tax returns and would have to register for income tax.
FAQ: Do Public Institutions need to apply for tax exempt status?
Public institutions will have to apply for income tax unless there is an automatic provision in the Income Tax Act, which provides an exemption in respect of the receipts and accruals of the public institution.
FAQ: Do Public Institutions (Institutions, board or body established by or under any law and excludes any company as defined in the companies act ,co-operatives, close corporation, trust or water service provider) need to register for Income Tax?
A public institution will have to register for income tax at any time when it becomes liable for any normal tax, or liable to submit any return. According to the annual notice issued by the Commissioner, public institution has to submit a tax return.
FAQ: I submitted a cancellation submission and it was approved. Why do I not receive my refund?
When a cancellation submission is applicable, there are another leg to obtaining your refund. Once you get notification that your cancellation submission was approved, please go to ACCOUJNT MAINTENANCE – MAKE PAYMENT and follow the process to REQUEST REFUND. Once your refund request is received by SARS, it will be approved and the refund paid […]
FAQ: How do we make payment on the VAT undertaking?
SARS is a pre-determined beneficiary at all banking institutions. You can make payment at any branch teller (ABSA; FNB, Nedbank; Standard Bank) by making use of the payment reference number provided. You can also make use of online banking by selecting SARS as a pre-determined beneficiary. When selecting a SARS account on internet banking ensure […]
FAQ: What is deemed to be residential property for VAT purposes?
“Residential” is defined under the word definition “dwelling” in the VAT Act and is defined as any building, structure, premises or any other place which is mainly used as a residence of a natural person. A family home leased on a long-term basis is an example of residential letting that is exempt from VAT.
