We trust you’ve had a smooth and successful tax return submission. The tax filing season for individuals or non-provisional taxpayers came to an end on Monday, 24 October 2022.
SARS released a notice earlier this week detailing Administrative Penalties for the Late Submission of Tax Returns.
Up to now, taxpayers were only liable for administrative penalties for the late submission of tax returns if two or more tax returns were outstanding for the 2007 to 2020 tax years. This has now changed, read the notice below for more.
Here is the official SARS notice:
Dear Valued Stakeholder
ADMINISTRATIVE PENALTIES FOR LATE SUBMISSION OF TAX RETURNS
This notice serves as a reminder of the change to the dispensation relating to the late submission of a tax return.
With effect from 1 December 2022, administrative penalties relating to the late submission of a tax return will be charged when one or more tax return(s) relating to tax years from 2007 up to 2020 are outstanding.
Prior to this change, taxpayers were only liable for administrative penalties for late submission if they had two or more tax returns outstanding for these tax years.
THE SOUTH AFRICAN REVENUE SERVICE
“Excelsiar is a member of Nowicki & Associates”
Credit: Nowicki & Associates” www.nowhr.co.za
