The 2022 tax filing season is here and the South African Revenue Service (SARS) has introduced a new auto-assessment protocol.
In 2021, the revenue authority issued auto-assessments for taxpayers, which involved SARS pre-populating taxpayers’ tax returns. The relevant taxpayer would be notified by SARS to review these returns and, if correct, accept the submission or amend the return if any items were missing or incorrect.
“If the data on the assessment is incorrect, the taxpayer will then have 40 business days to make a request to SARS for them to prepare and submit a corrected tax return.”Most expatriates are not aware of their SARS tax status, and many have not updated their contact details with SARS to reflect their new details. This is a serious concern, as SARS’ auto-assessment notice could easily be missed as a result, Tax Consulting SA said.
“A further risk is where an auto-assessment is done by SARS and there is a liability, in which case SARS penalties may be charged and interest will accrue for any late payment if not received within the grace period provided by SARS.” “This should also be considered in view of the fact that negligence in failing to properly comply with one’s tax obligations is now considered a tax offence, making it easier for SARS to prosecute. For example, a failure to notify SARS of a change in registered particulars, or any material facts, or to submit a return as required, may result not only in penalties and interest, but also a fine or imprisonment for up to two years.
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