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IMPORTANT TAX DEADLINES TO REMEMBER
- 31 January 2022: Individual provisional taxpayer’s 2021 tax returns
- 28 February 2022: Companies, Close Corporations and Trusts with February year ends 2021 tax returns
- 28 February 2022: 2022 second provisional tax estimates and payments for provisional individual taxpayers, Companies, Close Corporations and Trusts with February year ends.
INDIVIDUAL TAXPAYERS - NEW PENALTY RULE AND AUTO-ASSESSMENT PROCESS
SARS has been empowered to levy a late submission of return penalty where one or more personal income tax returns are outstanding. As a transitional measure for the first year, the one tax return or more rule will only apply to the 2021 tax return.
The deadline for individual non-provisional taxpayers has been extended to 2 December 2021. As a result, the date for levying penalties on taxpayers that have not filed their return will also be extended and implemented during January 2022.
Taxpayers in the auto-assessment population, who neither accepted nor edited and submitted their simulated assessments by this date, will receive an original assessment based on an estimate in accordance with section 95 of the Tax Administration Act, 2011.
This assessment is not subject to objection and appeal. However, a taxpayer who is not in agreement with his or her assessment may file a complete and accurate tax return within 40 business days of the assessment date. Such a return will be late, which means that normal late submission penalties and interest (where applicable) will apply.
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