SARS And The “Single Registration” Process
SARS now has a single registration and updating of details process for all taxpayers. This covers income tax, VAT, all payroll taxes and customs and duties. All information will be stored in one central point. So, if your bank account details change, you will only need to do this once as opposed to updating each type of tax.
This increased efficiency will assist taxpayers – for example, getting tax clearance should be faster. Previously many taxpayers found that, say, their PAYE bank details have not been updated, necessitating delays in obtaining the tax clearance as you have to “correct” your bank details.
This increased efficiency will assist taxpayers – for example, getting tax clearance should be faster. Previously many taxpayers found that, say, their PAYE bank details have not been updated, necessitating delays in obtaining the tax clearance as you have to “correct” your bank details.
As with many new systems, single registration has had teething problems – if you experience difficulties speak to your accountant.
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