The South African Revenue Services (SARS) is starting audits on Carbon Tax in terms of Section 101 of the Customs and Excise Act. This is a new process for SARS, so it is vital that clients are aware of it.
The audits include an assessment of the carbon tax paid for the 2019 and 2020 tax year of assessments and require companies to provide relevant records and materials.
Documents that may be requested from companies include:
Carbon Tax return - DA180 Accounts with supporting annexures.
Supporting Documents in terms of Section 4(1) or Section 4(2) of the Carbon Tax Act.
Confirmation from the Department of Forestry, Fisheries and the Environment (DFFE) of submission and approval of South African GHG Emission Reporting System (SAGERS) submission.
Supporting documents for any allowances claimed.
Cova Advisory