Sars appeals to companies to make tax payments on time

2011-03-29 08:50

The SA Revenue Service (Sars) today appealed to companies and large corporations to make their tax payments by Thursday as it was the last week of the current fiscal year.

“Over the next three days, Sars will be required to collect close to R42 billion in revenue in order to make the target which the Minister of Finance had set in the February 2011 Budget,” spokesman Adrian Lackay said in a statement.

“By midnight on Thursday 31 March 2011, Sars has to deliver R672.2 billion revenue in order to meet the target for the 2010/11 fiscal year.”

He said the biggest tax payments were expected from month-end VAT payments, and provisional corporate income tax payments.

Lackay urged businesses to make the payments early to avoid e-filing backlogs and queues at Sars offices.

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