Category Archives: Tax

Use This SARS Incentive to Bring Young People into Your Business

“The employment tax incentive is aimed at encouraging employers to hire young and less experienced work seekers.” (SARS Employers ETI Guide) With Youth Day celebrations around the corner, business owners have an opportunity not only to consider unlocking the benefits of having young workers in their teams, but also to make a difference to South […]

Your Tax Deadlines for June 2024

07 June – Monthly Pay-As-You-Earn (PAYE) submissions and payments 25 June – Value-Added Tax (VAT) manual submissions and payments 27 June – Excise Duty payments 28 June – Corporate Income Tax (CIT) Provisional Tax payments 28 June – End of the 1st fiscal quarter 28 June – Value-Added Tax (VAT) electronic submissions and payments. Disclaimer: The […]

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Your Employer Annual Declaration is Due by 31 May

“Failure by an employer to comply with its obligations does not only harm that employer and the fiscus, but also employees. SARS vigorously pursues employers that fail to comply.” (SARS) Employers must submit their annual reconciliation declarations (EMP501) with accurate and up-to-date payroll information about their employees by 31 May this year. This is among the […]

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Your Tax Deadlines for May 2024

07 May – PAYE submissions and payments 24 May– Value-Added Tax (VAT) manual submissions and payments 30 May – Excise duty payments 31 May – VAT electronic submissions and payments, & Corporate Income Tax (CIT) Provisional Tax payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No […]

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Donating to a PBO? Check SARS’ New Requirements (and PBOs Note Your New 31 May Deadline)

“[The new requirements] enable… a more efficient process to make deductions available to qualifying donor taxpayers and to help prevent section 18A claims abuse.” (SARS) Public benefit organisations (PBOs) are engaged in public benefit activities for example religious institutions, day care centres, disaster relief organisations, health clinics, etc. Many are dependent on donations and, to […]

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Your Tax Deadlines for April 2024

05 April – Monthly Pay-As-You-Earn (PAYE) submissions and payments 25 April – VAT manual submissions and payments 29 April – Excise Duty payments 30 April – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability […]

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Provisional Tax: Are You Ready for the Crucial 29 February Deadline?

“Provisional tax is merely a mechanism to pay the normal income tax liability during the tax year… an advance payment of a taxpayer’s normal tax liability.” (SARS) To provisional taxpayers, especially those who are liable for provisional tax in both their personal capacities and as business owners, it may well seem that there are endless […]

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Your Tax Deadlines for February 2024

07 February – Monthly Pay-As-You-Earn (PAYE) submissions and payments 23 February – Value-Added Tax (VAT) manual submissions and payments 28 February – Excise Duty payments 29 February – CIT Provisional Tax payments 29 February – PIT Provisional Tax payments 29 February – Value-Added Tax (VAT) electronic submissions and payments Disclaimer: The information provided herein should not […]

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How to Achieve Tax Compliance Throughout 2024

“SARS is willing and ready to assist taxpayers who want to be compliant. Where taxpayers willfully and intentionally ignore their legal obligations, SARS will act sternly.” (SARS Commissioner Edward Kieswetter) Businesses are often required to share their tax compliance status, for example for a tender application, bidding process or prequalification as a supplier; to confirm that […]

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Your Tax Deadlines for January 2024

05 January – Monthly Pay-As-You-Earn (PAYE) submissions and payments 24 January – End of Filing Season for Provisional taxpayers 24 January – End of Trusts Filing Season for taxpayers liable for provisional tax 30 January – Excise Duty payments 31 January – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. […]

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