16 September 2022 – Tax Directives enhancements in line with Financial Sector Conduct Authority (FSCA) were implemented. SARS has successfully implemented enhancements to the Tax Directives validation process.
Please note that going forward, SARS will be validating the registration data and status of entities submitting Tax Directive applications with the Financial Sector Conduct Authority (FSCA). Due to the additional control measures, some applications will inevitably be declined due to failed validations if the data that is captured is not aligned with the information on the FSCA website.
Fund Administrators and Long-term Insurers are encouraged to ensure that the registration data (Name of the fund, name of participating employer, name of Long-term Insurer and the registered number) captured on the tax directive application is correct and corresponds with the registration data on the FSCA records.
In the unfortunate event that the tax directive application is declined due to incorrect data captured, kindly ensure that the registration data with the FSCA is used and resubmit tax directive application.
The following Guides were updated: