The South African Revenue Service eFiling season is upon us and it’s time to prepare and submit your taxation returns with SARS. From 1st July 2021 till the 23rd November 2021, you have the opportunity to ensure you are compliant with the tax laws of the land. For provisional taxpayers, including Trusts, the deadline extends all the way to 31st January 2022.
Non-compliance with taxation laws, can lead to certain sanctions being imposed on companies and their directors. It is therefore, critical to have a competent partner, like Nkobane Consulting, to ensure that your submissions are compiled accurately and timeously.
The key things to note:
- Tax filing season for individuals will still start on 1st July 2021;
- SARS branches will be closed from 1st July 2021, with current plans to reopen on 16th August;
- Individuals who are able to should submit their tax filing through eFiling or the SARS mobile app;
- Taxpayers who need assistance will receive it telephonically by SARS officials.
The good news is that you do not need to stand in those long queues – wasting your valuable time or even risk contracting COVID-19 as you can file via eFiling. SARS has decided to auto assess individual taxpayers and the process will start in July 2021. Furthermore you that you do not need to call SARS for that, they will send a sms if you are selected.
What to prepare before filing starts
Now is a good time to get your tax admin ready to ensure a smooth and seamless filing experience! Ensure that you have received your IRP5/IT3(a)s and other tax certificates like medical certificate, retirement annuity fund certificate and any other 3rd party data that are relevant in determining your tax obligations. Reset your eFiling username and password if you have forgotten them online. Update your personal information such as banking details, address and contact details online on eFiling or the SARS MobiApp.
Auto registration for Personal Income Tax:
When you register for SARS eFiling for the first time and you do not yet have a personal income tax number, SARS will automatically register you and issue a tax reference number. Note that you must have a valid South African ID.
Here are the easy steps to follow:
1. Visit www.sars.gov.za
2. Select ‘Register Now’
3. Follow the prompts
4. Request a Notice of Registration – it will reflect your income tax registration number
You can also register for SARS eFiling on the SARS MobiApp and follow the same steps.
You can also contact Nkobane Consulting for assistance in any tax-related matters for your business or organisation and our capable staff with be at your service.
Happy Tax Season 2021.