Updated Turnover Tax submission channels
The postal channel for the application and/or the submission of Turnover Tax has been discontinued.
Alert 31
In this week's alert:
Tax deductions (PAYE) on pension or annuity
To assist pensioners with more than one source of income, legislation (recently introduced) makes provision for SARS to determine a more accurate PAYE deduction. By using the latest data available to SARS, SARS will notify the retirement fund administrators who will then deduct a more accurate amount of PAYE from the pensions or annuities.
Tax Amendment Acts
A number of Amendment Acts have been promulgated on 19 January 2022, with the relevant response documents and explanatory memoranda also being issued by Treasury.
Interest Rates
SARS has published the March 2022 editions of the Interest Rate Tables (Table 1 and Table 2), relating to interest rates applying to outstanding taxes, refunds and credit amounts.
Purveyors South Africa Mine Services v CSARS
The taxpayer appealed against a decision from the Tax Court of South Africa, upholding the rejection by SARS, of the Voluntary Disclosure Relief application submitted by Purveyors South Africa Mine Services. SARS, rejected the application since SARS believed that it was not submitted voluntary, and therefore did not comply with requirements of section 227 of the Tax Administration Act.