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Thread: Heavy penalties ahead for late tax returns

  1. #1
    Site Caretaker Dave A's Avatar
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    Heavy penalties ahead for late tax returns

    It might be an idea to check that your tax affairs are up to date. It looks like SARS is ready to inflict severe penalties.

    And it's not just returns and payments on the line - penalties will apply to a range of "non-compliant" behaviour, including failure to register as a taxpayer, failure to inform Sars of a change of address and other personal particulars, and failure to submit tax returns and other documents to SARS.

    For more background, read this story on Business Report.
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    Platinum Member Marq's Avatar
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    Heres the scenario from that report.....
    He said more than 5.3 million returns due by both corporate and individual taxpayers for the 2007/08 tax year were outstanding
    and then
    Magashula estimates that 337 000 taxpayers are behind with filing returns for the 2007/08 and 2008/09 tax years.
    Ok so now in my estimation that leaves about 5 million outstanding that relates to Companies........but
    Corporate taxpayers would eventually be brought into the net but "only when we have the resources", said Magashula.
    I'm all in favour of pulling in outstanding and bad debts but here we have, once again a huge plan with a fizzle of action against a few with a probably net effect of very little.

    I do somehow think however, that the numbers quoted are a bit suspect.
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    Site Caretaker Dave A's Avatar
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    Maybe, but I really don't like the look of those monthly penalties. That's a new kink, isn't it?

    I've tended to be a bit lax with timeous zero returns at times because up until now there's been no real penalty. But if I read that report right, that situation is changing.
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    Platinum Member Marq's Avatar
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    Yes nasty stuff - Its been on the cards for a while.

    I don't understand the zero returns stuff - I thought that had gone away in their attempt to do less paperwork. Do one declaration of non trading and then just keep an occasional profile update. I still have nil return irp6's outstanding according to them even though there is an assessment at a later date. Go figure.

    All this means is huge q's down at the tax office trying to ensure everything is in, up to date and in order. You stand there 100 deep while there are 3 'consultants' and then you see the next guy 10 ahead of you dump a pile of files on their table and you just know that thats that station out of action for the next four hours. Then one of them disappears round the back never to be seen again. Then the last one says to the supervisor, hovering in the background doing nothing, 'I,m off for tea now'. You are thinking...these benches could never be polished, theres not enough movement here...then you think......I should have bought my laptop to play games or do some work....then you think....next time - I'm going to smoke dope beforehand so this day seems even slower than it really is and that way you actually speed it up.

    Oh - and in case any of you mention efiling....I have been there done that and still havent got a clue as to whether I am registered, even though they say I am. Personal visit is the only way I trust this system and know I can sleep at night.
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