Sars deadline to file returns looms for provisional taxpayers

Provisional taxpayers have until next week Wednesday, 24 January, to file their 2023 income tax returns or risk facing the wrath of the South African Revenue Service (Sars).

The ‘taxman’ sounded the alarm for the fast-approaching deadline on Thursday, with a warning that individual taxpayers and trusts who fail to adhere could be held criminally liable and face penalties.

Read: Filing your tax return correctly and in time

Sars describes provisional taxpayers as any person “who receives income or to whom income accrues, other than remuneration”. Trusts are also included in the definition.

The tax agency noted that it will be taking a “zero-tolerance” approach on those who fail to register for the correct tax, do not file their tax returns and who try to swindle the revenue service by making inaccurate declarations.

“As of the 2023 year of assessment, trustees are required to submit mandatory supporting documents during the filing process. These documents include amongst others, the Trust Instrument, Annual Financial Statements, Letters of Authority, resolutions/minutes of trustee meetings and an organogram depicting the Beneficial Ownership of the Trust.”

“Additionally, beneficiaries of Trusts are required to declare their income, including income derived from a Trust, in their personal income tax returns,” Sars added.

Returns can be filed online using the Sars eFiling portal, while others may make an appointment with the relevant branch via the Sars website.

Read:
BP and Sars: The battle continues …
Taxpayers should be mindful of filing season changes
Sars introduces Vat estimated assessments