SARS braces for taxpayer rush to avoid penalties

2008-03-21 00:00

The South African Revenue Service (SARS) has announced important changes in operational procedures for the next two weeks.

The aim is to avoid taxpayer frustration as many businesses in particular will be making payments for various tax types until Monday, March 31, the end of the 2007/08 financial year for SARS.

SARS said in a statement it will try to ensure all money due by March 31 is banked in time.

There is traditionally a last-minute rush to make payments in time to avoid penalties for late payment.

The rush has resulted in SARS having to cope with a greater volume of transactions.

Payments related to business and cash-flow cycles include payments for VAT (normally from the 25th of each month) and personal income tax and corporate income tax.

A number of public holidays fall within this period.

SARS also expects that electricity supply disruptions will affect operations and services — including payment services — at branch office level.

SARS taxpayer service centres are closed and will re-open at 7.30 am on Tuesday, March 25.

Taxpayers are encouraged to use the following services for any outstanding payments due to SARS during the period:

• Electronic banking (telephone and Internet) — use your tax number as a reference;

• Manual banking at any of the following major banks (ABSA, FNB, Nedbank or Standard Bank).

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