Confusion over January tax deadline
The SARS provisional tax deadline of 23 January is causing confusion among taxpayers who think that their second provisional tax submission is due sooner this year, reports BusinessTech.
However, this deadline is for provisional taxpayers’ annual income tax that is due on 23 January instead of 30 January – seven days earlier than normal, says Tax Consulting SA.
The second provisional tax submission and payment is still due on or before the last business day of February 2023.
‘The close relationship between annual income tax and provisional tax makes this kind of misunderstanding easy, especially if such announcements are not carefully worded,’ the group said.
It noted non-provisional taxpayers should have already submitted their annual income tax between 1 July 2022 and 24 October 2022.
These taxpayers would have declared their annual employment income after having earned it in the previous tax year, that is, between 1 March 2021 and 28 February 2022.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
