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Trusts

What’s New? 3 June 2024 – Dates for the 2024 Filing Season Individual taxpayers (non-provisional): 15 July 2024 to 21 October 2024 Auto-assessment notices: 1 – 14 July 2024 Provisional taxpayers: 15 July 2024 to 20 January 2025 Trusts: 16 September 2024 to 20 January 2025 More information will soon be shared on the Filing Season webpage. […]

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Filing, Declaration and Payment

All Exempt institutions MUST annually submit an IT12EI – Return of Income Tax Exempt Organisations – External Form income tax return. The income tax return enables the Commissioner to assess whether the approved exempt entity is operating within the prescribed limits of the relevant approval granted. Should a liability arise after submission of the income tax return, payment must […]

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Tax Practitioner Connect Issue 32 (May 2022)

SARS introduces new Service Charter SARS has adopted a new Service Charter that clarifies our service commitment to South African taxpayers and traders for tax, customs and excise.  The Charter also sets out the rights and obligations of taxpayers and traders and is effective from 1 April. The new charter is in pursuance of a […]

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How does Auto-Assessment work

Filing Season for Individuals Income tax return filing dates  The dates for the 2024 Filing Season are: Individual taxpayers (non-provisional): 15 July 2024 to 21 October 2024 Auto-assessment notices: 1 – 14 July 2024 Provisional taxpayers: 15 July 2024 to 20 January 2025 Trusts: 16 September 2024 to 20 January 2025 Auto-Assessment – we have […]

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Excise Duty/Levy payment and submission dates

Excise payment and submission dates for 2023/2024 Excise payment and submission dates for 2024/2025 AD VALOREM SUBMISSION AND PAYMENT DATES 2024 Duty/ Levy Item Quarter Applicable Submission Date Payment Date Ad Valorem Excise Duty ·         1 January 2024 – 31 March 2024 ·         1 April 2024 – 30 June 2024 ·         1 July 2024 – […]

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Government Connect Issue 6 (September 2022)

PAYE deductions for audit committee members SARS receives many enquiries from national, provincial and local government institutions regarding whether payments to certain members of the institutions’ audit committees (members) should be subject to the deduction of withholding of Employees’ Tax (PAYE). “Members” in this context refers to members appointed to an audit committee from outside […]

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Tobacco Products

WHAT’S NEW? 24 August 2023 – FAQs for Vaping productsFrequently Asked Questions were published for Vaping products to clarify licensing and registration requirements, which manufactures are impacted and more. Scroll down to see the FAQs. WHAT IS IT? Tobacco Products including Cigarettes, Cigars, Cigarette Tobacco, Pipe Tobacco and Vaping Products are subject to the payment […]

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Tariff

What’s New 27 October 2022 – Webinar on Tariff Determination SARS hosted a comprehensive Tariff Determination webinar.  If you missed the webinar, see the recording on YouTube:  https://youtu.be/TtXDAI9WMes or view the presentation.   What is it? Top Tip: Click here to access the Tariff Book which consist of the Schedules to the Customs & Excise Act, 1964.   […]

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New Customs Legislation FAQs

1. Why modernise customs law? In an ever changing and complex international, regional and national environment, Customs plays a critical role in supporting Government’s programmes to promote economic growth, job creation and social cohesion.   The Customs and Excise Act, 1964, has not kept pace with the changing focus of customs work or with the radical […]

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Legislative Framework

The Customs and Excise Act, 1964 (Act No. 91 of 1964) was assented to on 27 July 1964 and came into effect on 1 January 1965. For the first time in South Africa, both customs and excise matters were provided for in one Act. The purpose of the Act is to provide for the levying of […]

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