News

3 April 2024 – SARS is striving to make it easy for taxpayers to comply with their obligations. As a result, we are automatically assessing a growing number of individual taxpayers. However, some may not have this benefit or, for various reasons, may need access to eFiling to validate the auto-assessments.

SARS has determined that many employees may not have access to the internet and that, given employers’ rules, some systems block access to SARS eFiling.

SARS would like to ask large employers or representative of large employers, to allow your employees to access SARS eFiling through the employer’s systems. Some employees’ only point of internet access is their work computer, so enabling your employees to transact with SARS online means that they do not have to take time off to visit a SARS branch.

SARS values your support and collaboration.

Source: SARS Tariffs
Enable your staff to access SARS eFiling on your systems

3 April 2024 – The tax workshop schedules for Mpumalanga during April to June are now available.

Source: SARS Tariffs
Mpumalanga Tax Workshops

2 April 2024 – The South African Revenue Service (SARS) is pleased to announce its preliminary revenue collection outcome for the 2023/24 fiscal year.

SARS was established in 1997 and remains inextricably linked to the country’s democracy, now 30 years old. This link is premised on a pivotal role that SARS plays in fulfilling its legal mandate, often expressed as its Higher Purpose. The organisation is realising its Vision 2020-2025 of a SMART, modern SARS, that can be trusted and admired by all. Since its inception, SARS has collected R21.6 trillion in net tax revenues. Tax revenue collections have increased from R114 billion in 1994/95, at a compounded annual growth rate of 9.9% and an average tax-to-GDP ratio of 22.2%. To put this in perspective, our collections over the last 4 business days this fiscal year amounted to R114 billion or the total collected in 1995 for the entire year.

As at the end of March 2024, SARS collected a record gross amount of R2.155 trillion, year on-year 4.2% against the nominal GDP of 4.9%. SARS paid out refunds of R414 billion to taxpayers, the highest ever quantum in refunds compared to R381 billion in the prior year, representing growth of 8.6%. This brings the collected net amount to R 1.741 trillion which is almost R10 billion higher than the revised estimate and R54 billion more than last year’s R 1.687 trillion.

See the full media release here.

For more information, see:

• Revenue announcement 2024: Media Pack
• Revenue tables 2024

For more information, contact SarsMedia@sars.gov.za

Source: SARS Tariffs
Media release – Compliance efforts of SARS bear fruit and underpin the positive revenue results despite the tough prevailing economic conditions

28 March 2024 – South Africa recorded a preliminary trade balance surplus of R14.0 billion in February 2024. This surplus is attributable to exports of R161.8 billion and imports of R147.8 billion.

See the full media release here.

Or visit the Trade Statistics webpage.

Source: SARS Tariffs
Media release – Trade Statistics for February 2024

28 March 2024 – Ad Valorem Excise Duty is payable on certain locally manufactured goods and goods imported of the same class or kind. Ad Valorem Excise Duty is determined in terms of Schedule 1 Part 2B, which specifies the goods on which duty is levied, each with its own applicable rate of duty. The policy and annexure have been updated to align with legislation.

• SE-ADV-02 – Ad Valorem Excise Duty – External Policy
• SE-ADV-02-A01 – Ad Valorem Value Determination – External Annexure

Source: SARS Tariffs
Excise – Ad Valorem Excise Duty

27 March 2024 – The published Excise Other Fermented Beverages policy has been updated to indicate the exclusions in terms of item 624.50. 

• SE-OFB-02 – Other Fermented Beverages – External Policy

Source: SARS Tariffs
Excise – Other Fermented Beverages Policy

27 March 2024 – The latest Tax Practitioner Connect Newsletter Issue 50 is available. This issue includes information on Employees’ allowances, the PAYE Employer reconciliation BRS for the 2025 year of assessment, Excise declaration, return submission and payments, latest SARS webinars, tax directive system and legislative changes.

Source: SARS Tariffs
Tax Practitioner Connect Issue 50 (March 2024)

26 March 2024 – As the tax revenue financial year draws to a close this week, the South African Revenue Service (SARS) has labelled March a priority month for taxpayers and traders to settle their tax and customs payments and tax and customs debt on or before the last business day of this month, which is Thursday, 28 March 2024.

Payment options

Tax payments can be made via a bank, electronic funds transfer (EFT), via eFiling or the SARS MobiApp Customs payments can also be made at any SARS Customs office. It is important that taxpayers and traders perform the payment transaction during business hours to authorise their banking institutions to release the payment to SARS – a required step if the payment is made via eFiling and the MobiApp.  Balance amount enquiries may be made by requesting a statement of account on eFiling or the SARS MobiApp or by SMS to SARS on 47277.

#MarchPriorityMonth #YourTaxMatters

Issued by: The South African Revenue Service

Enquiries: sarsmedia@sars.gov.za

Source: SARS Tariffs
Media release – Taxpayers called to settle tax payments with SARS this week

26 March 2024 – The mobile tax unit schedule for Limpopo province, Modimolle and Bela-Bela, is now available.

Source: SARS Tariffs
Mobile Tax Unit Schedule for Limpopo province – April 2024

26 March 2024 – The 7th edition of the SMME Connect comes as most companies have just finalised and submitted their Company Income Tax Returns (ITR14) and their second-period Provisional Returns (IRP6). To these companies, we at SARS extend our heartfelt gratitude on behalf of all South Africans who benefit from the taxes paid. We also want to remind companies that have missed the deadline that they can still complete and submit their returns. This issue offers simple guides to help you meet your tax obligations.

Source: SARS Tariffs
SMME Connect March 2024 edition