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Thread: VAT submissions due 31 March 2020

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    Bronze Member Beancounter's Avatar
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    VAT submissions due 31 March 2020

    Does anybody know whether a reprieve on VAT payments and perhaps extension was granted for VAT submissions due this coming Tuesday?
    No good deed shall go unpunished - Oscar Wilde

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    Site Caretaker Dave A's Avatar
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    I've only heard of measures relating to PAYE / payroll taxes.

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    Bronze Member Beancounter's Avatar
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    Same here. I don't think vendors will be able to file on time. Plus accountants are inundated with SMME and UIF claims...
    No good deed shall go unpunished - Oscar Wilde

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    Knowing Kieswetter and his mates, it will make zero difference beancounter.

    Secondly, they have again recalculated PAYE and I have tens of little differences relating to 2016. That makes us non-compliant and we will be fined for taking advantage of the 20% that Dave refers to.

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    Quote Originally Posted by Andromeda View Post
    Knowing Kieswetter and his mates, it will make zero difference beancounter.

    Secondly, they have again recalculated PAYE and I have tens of little differences relating to 2016. That makes us non-compliant and we will be fined for taking advantage of the 20% that Dave refers to.
    I'm not expecting any fireworks. We know how maliciously SARS can assess and they will make sure to benefit from South African's disaster in the making
    No good deed shall go unpunished - Oscar Wilde

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    Full Member EAB's Avatar
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    There are no changes to timelines for submissions.

    Currently you can only shortpay on 20% of the PAYE for four months, BUT this will still have to be paid. So you will in effect sit with about a double PAYE bill after 4 months. If your cashflow allows you to pay the full amount, rather pay it. Will save you on time with extra calculations and recons, and most possible questions/errors from SARS.

    There were proposals on relief for UIF and SDL, but nothing official at the moment
    Wisdom is to do now what you will be satisfied with later

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    Quote Originally Posted by EAB View Post
    There are no changes to timelines for submissions.

    Currently you can only shortpay on 20% of the PAYE for four months, BUT this will still have to be paid. So you will in effect sit with about a double PAYE bill after 4 months. If your cashflow allows you to pay the full amount, rather pay it. Will save you on time with extra calculations and recons, and most possible questions/errors from SARS.

    There were proposals on relief for UIF and SDL, but nothing official at the moment
    I'm so with you on this one. I'll soldier on with the VAT returns. But come EMP201 returns, me thinks those teturns are just gonna have to be paid up next week. No use postponing payment. Nobody knows the future, and it's better to just settle the liability now.

    On that point, it seems Government is not going to be too committed to helping the people or businesses. They may give extensions and reprieve for smaller amounts such as PAYE/SDL/UIF. But no relaxation on the nice bank breakers such as VAT. Plus, I haven't heard a squeak from DSBD about any of the 40+ applications for SMME financial assistance I lodged... Small businesses are going to have to fend for themselves it seems.
    No good deed shall go unpunished - Oscar Wilde

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