SARS
The South African Revenue Service (SARS) has decided to put on hold the SMSs that were sent out earlier this week, referring to possible prosecution of taxpayers for their failure to file their returns. SARS has acknowledged that the SMSs fell short of the high professional standard they seek to uphold and has sincerely apologized for any inconvenience caused.
The intention behind the SMS messages was meant as a genuine and helpful reminder to taxpayers to fulfill their legal filing obligations. SARS emphasized that they do not commence legal action before engaging with taxpayers. It is important to note that the reminders are generally ignored by some taxpayers, which is when situations can escalate to levels where legal action may be required. However, even in those cases, taxpayers are given reminders about their obligation to file outstanding returns.
SARS has outlined the conditions under which a company is expected to file a return. These conditions include a derived gross income of more than R1,000, holding assets with a cost of more than R1,000, or having liabilities of more than R1,000 at any time. Additionally, if a company derived any capital gain or capital loss of more than R1,000 from the disposal of an asset covered by the Income Tax Act, or had taxable income, taxable turnover, an assessed loss, or an assessed capital loss, they must also file their returns.
The Revenue Service has reminded taxpayers that it remains their legal obligation to ensure their tax affairs are regularized if they are not already in order. SARS will engage with taxpayers regarding outstanding returns at the appropriate time. However, the service made it clear that taxpayers who continue to ignore reminders and fail to regularize their tax matters will eventually have to answer for their continued non-compliance.
Last but not least, SARS expressed appreciation for the efforts made by honest taxpayers who diligently comply and fulfill their obligations. The Service acknowledges the valuable contribution these taxpayers make to the important work they are responsible for.
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