Tag: Shipping

24 January 2023 – The Tax Exempt Institutions Connect, second edition, is now available.

Source: SARS Tariffs
Newsletter: Tax Exempt Institutions Connect

20 January 2023 – Provisional taxpayers have until 23 January 2023 to submit their annual income tax return. We thank taxpayers who have already filed and encourage remaining filers to do the same.

Who is a provisional taxpayer? Any person who receives income or to whom income accrues other than remuneration or an allowance or advance such as travel allowance or subsistence allowance, is a provisional taxpayer. The complete definition and criteria with important exceptions to take note of, can be read at Provisional Tax | South African Revenue Service (sars.gov.za).

Late filing will attract administrative penalties.

#YourTaxMatters

Source: SARS Tariffs
Tax filing deadline reminder for Provisional Taxpayers: 23 January 2023

The South African Revenue Service (SARS) has today released an interpretation note titled “DETERMINATION OF THE TAXABLE INCOME OF CERTAIN PERSONS FROM INTERNATIONAL TRANSACTIONS: INTRA-GROUP LOANS” which provides guidance on how SARS will determine arm’s length pricing for intra-group loans. The Note also provides guidance on the consequences for a taxpayer if the amount of debt, the cost of debt or both are not arm’s length.

See the full Media Release here.

Source: SARS Tariffs
Media release – Transfer pricing: Intra-Group Loans

12 January 2023 – A survey will be distributed to a sample of VAT vendors. Below is the wording for you to know it’s legit and not a scam. For future studies, surveys, SMS and email campaigns from SARS, remember to visit our Current surveys, SMSs and Emails webpage.

Dear VAT Vendor,

SARS is conducting a customer experience survey and you have been selected to participate in the study. We kindly request your feedback on your interaction with SARS regarding your VAT registration. Your feedback will be used to understand your views and to help SARS improve on its VAT registration process.

Please be assured that your responses will remain anonymous, as the survey is completely confidential. If you would like to verify the authenticity of this email and the survey, please visit the SARS website at www.sars.gov.za.

Click the link below to complete this short survey.

Survey Link XXX

Sincerely,

SOUTH AFRICAN REVENUE SERVICE

Source: SARS Tariffs
Value-Added Tax (VAT) Customer Experience Study

11 January 2023 – The payment date for the Spirits Excise account for the November 2022 accounting period (130 days) has been corrected. It was indicated as 7 April 2023 but must be 6 April 2023. Click here for the updated submission and payment dates – Excise Duty/Levy payment and submission dates | South African Revenue Service (sars.gov.za).

 

Source: SARS Tariffs
Correction – Excise Duty payment for the November 130 days VMS account

10 January 2023 – The December 2022 issue of the SMME Connect is now available.  See the latest edition for news on using a non-registered tax prepared, VAT obligations for SMMEs, tax compliance status verification, Corporate income tax and more.

Source: SARS Tariffs
Latest SMME Connect newsletter is available

10 January 2023 – We are currently experiencing high call volumes.  Please make use of our digital channels or eFiling to avoid waiting in queue for a Contact Centre agent.

If you have received a Personal Income Tax Administrative Penalty notification, this was issued due to the late or non-submission of one or more Income Tax Returns.

To remedy this, please submit your outstanding returns as soon as possible. Failure to do so will result in a monthly recurring admin penalty being levied until you are compliant. For more information, visit the Admin Penalty webpage or log on to your eFiling profile to view your personalised admin penalty notice. You can submit your outstanding returns via eFiling, the SARS MobiApp, or by booking an appointment with a Branch Agent.

Source: SARS Tariffs
Have you received a Personal Income Tax Administrative Penalty notification?

5 January 2023 – Customs & Excise Act, 1964: The tariff amendment notices, scheduled for publication in the Government Gazette, relate to the amendments to –

• Explanatory Memorandum
• Amendment to Part 1 of Schedule No. 1 by the insertions of new 8-digit tariff subheadings, deletions and substitutions under several Chapters;
• Amendment in Schedule No. 4 by the substitution of the title in Schedule No. 4 to delete the reference made to refunds and a new item 460.18/9001.10.19/01.08 in Part 2 of Schedule No. 4 is inserted as a consequence to the amendment in Part 1 of Schedule No. 1; and
• Amendment in Part 4 of Schedule No. 5 by the deletion of refund items 540.01/195.10/0105, 540.01/195.10/02.05 and 540.01/195.20/01.05.

Publication details will be made available later

Source: SARS Tariffs
Legal Counsel – Secondary Legislation – Tariff Amendments 2023