- 16 September 2022 – Discontinuation of the IT14SD form
Effective 16 September 2022, the Supplementary Declaration for Companies or Close Corporations (IT14SD) will no longer be required by SARS. The IT14SD will be replaced with a letter requesting relevant supporting documents based on the reason for verification.
How can the ITR14 be obtained & submitted?
The ITR14 can be requested and submitted electronically by using the eFiling platform.
How do we complete the ITR14?
You can complete the ITR14 via eFiling.
Taxpayers who have not yet registered for eFiling are encouraged to visit www.sarsefiling.co.za to register as this will enable them to obtain, complete and submit the ITR14 online in a secure environment 24 hours a day.
To see an example of the ITR14, click here.
What supporting material must we submit with the ITR14?
- Annual Financial Statement for Small, Medium to Large Companies
- It is compulsory for the following schedules to be submitted with the return:
- For companies that conducted mining activities: GEN-001 Mining schedule
- For companies that conducted short term insurance activities: ICS01 Short term insurance schedule
- For Headquarter companies: RCH01 Schedule for Headquarter Company election
- For companies that participated in farming activities, please complete the Farming Schedule (IT48).
- For Controlled Foreign Companies:
- IT10A – Controlled Foreign Company Prior 2012
- IT10B – Controlled Foreign Company 2012 Onward
To explain this further:
- The “IT10A – Controlled Foreign Company (CFC) prior 2012” is applicable for years of assessment commencing prior to 1 April 2012
- The “IT10B – Controlled Foreign Company (CFC) 2012 onwards” is applicable for years of assessment commencing on or after 1 April 2012
- For Controlled Foreign Companies, the submission of the Controlled Foreign Company (CFC) return IT10A (prior 2012) or IT10B (2012 onwards) is compulsory.
- IT10A – Controlled Foreign Company Prior 2012
More info on completing the ITR14
A customised ITR14 will be created according to the company type that you specify as well as the answers to other initial questions when completing your return. Company types will be classified in line with the following company category descriptions:
|Dormant company||A dormant company is classified as a company that has not actively traded for the full year of assessment (i.e. if the company partially traded during the year of assessment, the company will not be regarded as a dormant company).|
|Share Block||A Share Block Company is defined in s. 1 of the Share Blocks Control Act, 1980 (Act 59 of 1980).|
|Body Corporate||A Body Corporate is defined in s. 1 of the Sectional Titles Act, 1986 (Act 95 of 1986).|
|Micro Business||A Micro Business is classified as a company with a gross income (sales / turnover plus other income) not exceeding R1 million and total assets (current and non-current) not exceeding R5million, and that is not classified as a Body Corporate / Share Block Company.|
A Small Business is classified as a company with a gross income (sales / turnover plus other income) not exceeding R14 million and total assets (current and non-current) not exceeding R10 million, that is not classified as a Body Corporate / Share Block Company or Micro Business.
Note: A Small Business is not the same as a Small Business Corporation as defined in section 12E.
|Medium to Large Business||If a company is not classified as a body corporate / share block company, micro business or small business, it will be classified as a medium to large business (i.e. gross income (sales / turnover plus other income) exceeding R14 million and / or total assets exceeding R10 million).|
Top Tip: Ensure that your business details are up to date before completing your ITR14. If you want to make any changes then you will have to updated the legal entity information on the RAV01 on your eFiling profile. See our page on Keeping my business details up to date for more information.
FTW01 – Declaration of Foreign Tax Withheld – External (Form)
GEN-001 – Mining Schedule – External Form
ICS01 – Schedule for Insurance Companies – External Form
IT-ELEC-03-G01 – How to complete the company Income Tax return ITR14 eFiling – External Guide
IT-GEN-04-G01 – How to complete the Income Tax Return ITR14 for Companies – External Guide
IT10A – Controlled Foreign Company Prior 2012 – External Form
IT10B – Schedule Controlled Foreign Company 2012 Onward – External Form
IT14SD – Example of Supplementary Declaration for Company or CC – External Form
IT180 – Declaration by Employer to Claim Deduction against Learnerships – External Form
RCH01 – Schedule for Companies Electing to be a Headquarter Company – External Form
Frequently Asked Questions
FAQ: Which return must be completed by Companies?
The Company Income Tax Return (ITR14) must be completed by...Read More
FAQ: What is the difference between the old format IT14 and the new format ITR14?
The new format ITR14 flex form has been enhanced to...Read More
FAQ: What are the different channels to request an ITR14 return?
The ITR14 return can be requested via eFiling if the...Read More
FAQ: Can the ITR14 return be requested by contacting the SARS Contact Centre?
No, the SARS Contact Centre will not be posting the...Read More