
SARS ramps up scrutiny as trust and provisional tax filings surge
With more tax returns submitted, SARS is intensifying efforts to ensure full compliance, particularly among trusts, using AI and data-driven enforcement.
With more tax returns submitted, SARS is intensifying efforts to ensure full compliance, particularly among trusts, using AI and data-driven enforcement.
This is double the initial estimate of between R5bn and R6bn.
SARS highlights common errors that can lead to application rejections and warns against attempts to evade tax.
Some 20% of applications for tax directives were rejected.
The MTBPS shows tax revenue will be below the Budget estimates, but SARS is adamant it will do everything in its power to collect as much money as it can.
SARS has processed more than 1.2 million tax directives for savings component withdrawals, paying out R21.4 billion to fund members.
The introduction of the two-pot retirement system has triggered a wave of withdrawal applications, prompting concerns over tax liabilities and the need for improved financial education.
As the two-pot system rolls out, fund administrators are receiving a wave of withdrawal claims, highlighting the financial squeeze many are feeling.
The Tax Ombud is investigating SARS for potential service failures in addressing eFiling hijacking, with a review under way to uncover systemic issues.
Taxpayers should inform SARS if they have been unemployed for a full year or longer, to avoid being flagged as non-compliant.
SARS rakes in more from personal income and VAT, but corporate tax slumps by almost 9%.
The commissioner says the Revenue Service has put measures in place to meet the revised estimate for revenue collection.