Individuals who filed personal income tax returns and found that they owe money to SARS are encouraged to make their outstanding payments by 31 January 2018. This is for taxpayers who filed their returns during the 2017 Tax Season. Acting SARS spokesperson, Mr Sicelo Mkosi expressed that taxpayers who fail to oblige with the deadline will face penalties, interests as well as criminal processes. Penalty charges range from R250 to R16 000 per month.
Payments must be made through one of these three main channels:
If the individual will not be able to pay the outstanding debt on time, arrangements must be made with SARS to defer payment or allow for payment in instalments.
This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)