3 May 2023 – The South African Revenue Service (SARS) wishes to provide an update with respect to the matter of Tax Compliance Status. As the previous Tax Compliance Status (TCS) solution had been operational since April 2016 and processed substantial and growing volumes of taxpayers requesting 3rd party verification requests, including Foreign Investment Allowance and Emigration, there was need for an enhancement to the system to rationalise and speed it up. In addition, following the announcement of the abolition of emigration as an exchange control concept in 2020, the South African Reserve Bank (SARB) has removed the requirement to apply to emigrate financially (the MP336 application). This has necessitated changes to SARS’ processes and forms.
The enhanced TCS system was introduced on 24 April 2023 following consultations with authorised dealers and the SARB. It supports the strategic objectives of SARS to make it easier for taxpayers to comply.
