FAQ: What relevant material is the Company required to submit with the ITR14 return?
For first time submission of the ITR14, signed off supporting annual financial statements (AFS) are compulsory for submission if the Company is classified as a Small Business or Medium to Large Business. The AFS must as a minimum contain the following: Income Statement; Balance Sheet; Tax Computation; and Notes to the AFS. For all other […]
FAQ: Will SARS accept any posted relevant material related to the ITR14?
SARS will not process or respond to any relevant material (supporting annual financial statements or ITR14 schedules) received via postal submission.
FAQ: Will SARS grant an extension for the submission of an ITR14 return?
No, SARS will not be granting extensions for the submission of ITR14 returns.
FAQ: In which format must the information be prepared for capturing of the ITR14 in the branch?
The information required for capturing of an ITR14 in a SARS branch does not need to be prepared in a specific format/template. The only pre-requisite is that the data is prepared in accordance to the requirements specified in the External Guide – IT-GEN-04-G01 – How to complete the Income Tax Return ITR14 for Companies – […]
FAQ: Will SARS assist with the interpretation of financial statements?
No. The SARS agent will not assist with the interpretation of the financial statements and will only capture the information completed by the Company representative/Public Officer.
FAQ: What will the impact be of changing answers to questions on the first page of the ITR14?
All questions on the first page of the ITR14 are mandatory and must be completed before commencing with completion of the return. Depending on the answer provided to each question, subsequent questions will display which will customise the return to company type. Note: If any of the answers to questions on the first page are […]
FAQ: How will the ITR14 be customised?
The new ITR14 flex form will be customised per company type: Dormant company Share Block Company Body Corporate Micro business Small business Medium to Large business
FAQ: Will SARS be populating the information for my Company?
Only limited demographic information will be pre-populated on the ITR14: Registered Name Trading Name Company Registration Number Financial Year End
FAQ: What is the Company representative/Public Officer required to submit for change of Public Officer details?
For change of Public Officer details, the following relevant materials are required: Original identity document/passport/driving licence or a temporary identity document/passport/driving licence of the public officer or representative taxpayer. Where a certified copy is not available, any SARS official who is an authorised Commissioner of Oaths must certify the relevant copy. Letter of appointment authorising […]
FAQ: What is the Company representative/Public Officer required to submit as relevant material for change of banking details?
The following relevant material is required for change of banking details for a Company: Memorandum of Incorporation in the case of a Company or Close Corporation, or a Trust deed together with the minutes of a meeting specifying who is authorised to act on behalf of a Trust in the case of a Trust; Original […]
