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Paying taxes on time pays off

12 Dec 2011

Jonathan Coetzee

South African tax payers should pay the correct amount of tax on time because it is the right, legal and cheapest course of action. This is the advice of Mr M Hassan, Project Director at the South African Institute of Chartered Accountants (SAICA).

“South African tax payers should pay the correct amount of tax not only because it is the right thing to do, but also because it is likely to be cheaper than the penalty and it does not expose them to legal risk.”

According to Hassan, paying the correct tax supports the country’s growth and is an investment in our collective future. “But we all know it is not always easy as the tax code can be very complex depending on individual tax payers’ circumstances. Every year at this time we are asked for our advice by tax payers anxious to avoid penalties. We recommend that if you are uncertain of your exposure, you should get trusted professional advice,” Hassan said.

The dates for 2011 tax submissions are as follows:

  • 30 September 2011 was the deadline for manual submissions by all tax payers;

  • 31 October 2011 was the deadline for the Voluntary Disclosure Programme;

  • 25 November 2011 was the deadline for electronic submissions by non-provisional tax payers;

  • 31 January 2012 is the deadline for electronic submissions by provisional tax payers; and

  • 31 January 2012 is the deadline for the submissions of Turnover Tax Returns TT03.

To assist tax payers with compliance, the Voluntary Disclosure Programme, effective from 1 November 2010 to 31 October 2011, was introduced last year. The aim of the programme was to encourage applicants to disclose their defaults and give them the opportunity to regularise their tax affairs and contraventions of the Exchange Control Regulations. In terms of the programme, defaulters are exempt from penalties, interest and additional taxes, as well as criminal prosecution. However, they have to pay all taxes due to the state.

(Source: South African Institute of Chartered Accountants.)


For more information please contact Jonathan Coetzee of Tenk Loubser Inc on 021 852 0382 / jonathanc@exceedsw.co.za

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