http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.86Change: 0.02
R/$ = 13.25Change: 0.06
Au 1132.68 $/ozChange: -2.17
Pt 1010.00 $/ozChange: -10.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
May 15, 2008

Sars simplifies personal income tax filing process

Back
Finance Minister Trevor Manuel discusses the modernisation process of the tax return process
 
 
 
Africa|System|Systems|Africa|Logistics|Service|Systems
Africa|System|Systems|Africa|Logistics|Service|Systems
africa-company|system|systems-company|africa|logistics|service|systems
© Reuse this



Finance Minister Trevor Manuel on Thursday launched the 2008 tax-filing season, and announced changes to the personal income tax for individuals that would impact on the obligations of employers.


The new changes would require that employers submit accurate pay-as-you-earn (PAYE) information.

South Africa would have two filing seasons, one for employers and another for individuals. Employers would have between July 1, 2008, and August 29, 2008, to file their PAYE and have this information reconciled by the South African Revenue Service (Sars) before sending out workers' IRP5 forms.

Employers are required to issue employees with IRP5 tax certificates, where tax has been deducted from salaries.

Sars said that it had developed and would supply new software to employers to enable them to achieve simpler PAYE reconciliations.

The information would be prepopulated on the individual's tax return form and, thus, simplify the tax-filing process. Individuals would have until November 21, 2008, to submit manual tax returns and until January 23, 2009, to submit e-filing returns.

Further, Sars said that individuals that earned less than R120 000 a year and only had a single employer and no additional income or expenses in the year, would not be required to file an individual tax return.

It would have the information on its system and would be able to monitor noncompliance from those that were suppose to file a tax return, it stated.

Manuel called the tax-return simplification process one of modernisation and said the system was maturing.

TAX FORMS

Sars also said it had created a customised tax return form. The two new income tax returns, the IT12S and IT12C, which were introduced last year, would be merged into a single income tax return for individuals, the ITR12. The return would be customised according to the complexity of a taxpayer’s income tax affairs.

Those with standard declarations would receive a return containing only the necessary fields, while individuals with foreign dividends or business income, would receive the appropriate additional fields.

Owing to this, as well as the logistics and costs involved with sending out tax returns, Sars would send out letters to all registered taxpayers that would require individuals to request a tax return.

Requests for a tax return could be made telephonically, by using eFiling, sending a return request attached to the letter, or by visiting any Sars office.

All forms and requests would also be made available in multiple languages.

SUPPORT SYSTEMS

Sars explained that it had implemented a four-tier structure to its control centres in order to upgrade its service to taxpayers. This structure would allow taxpayers to reach the correct persons to deal with their specific queries.

Sars commissioner Pravin Gordhan said during a media briefing that the costs involved with its entire modernisation process, or personal income tax reform programme, which began in 2007, would amount to about R650-million for the year.

Sars noted that it hoped to continue simplifying and updating the tax return process, to the point where all third-party data, such as data from medical aid schemes, were prepopulated on tax returns.


 


Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
Updated 2 hours 38 minutes ago Koeberg unit 2 will be shut down on Monday August 31 for scheduled refuelling and maintenance and is expected to return back to service by mid-December 2015, Eskom said late Monday afternoon. The scheduled shutdown of Koeberg unit 2 is part of Eskom’s overall...
Updated 2 hours 57 minutes ago South Africa is set to play host to Africa’s first international renewable-energy conference, providing a platform to showcase the continent’s numerous renewable-energy projects to high-level international delegates, in Cape Town, from October 4 to 7. The South...
Minister in the Presidency for Planning, Monitoring and Evaluation Jeff Radebe
Updated 3 hours ago President Jacob Zuma has transferred the Ministry of Planning, Monitoring and Evaluation to the Department of Planning, Monitoring and Evaluation (DPME), thus completing the reconfiguration of government in line with changes made to the National Executive in May...
More
 
 
Recent Research Reports
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Electricity 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
Training company The Intelligence Transfer Centre will host the fourth yearly Environmental Crimes Conference at the Indaba Hotel, in Fourways, Johannesburg between September 9 and 10. Confirmed key regulatory bodies that will attend the event include the Department...
The government of Egypt has said it is ready to provide technical assistance to Malawi in the development of the Shire–Zambezi waterway, which is designed to link landlocked Malawi to the Indian Ocean by opening the two rivers for navigation. Egyptian ambassador to...
Kenya is finally set to start building a new multipurpose petroleum pipeline, after securing a $350-loan from a consortium of banks, including South Africa's Rand Merchant Bank. The other banks in the consortium are the Cooperative Bank of Kenya, Citibank's Kenya...
MARAIS VAN HEERDEN The owner/operator should be able to view the overall project design and progress made at any time
Three-dimensional (3D) engineering design models can now be viewed on tablets, which enable stakeholders to view the design without having to buy the design software used to create it, says engineering design firm 3DDraughting executive Marais van Heerden. The...
Ford’s newest offering in a long list of newcomers to the local market in the last two years is the B-Max multi-activity vehicle (MAV). The B-Max will play in the so called B-MAV segment, or the small MAV segment, currently dominated by Toyota’s Avanza, which sells...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96