If you’re a provisional taxpayer, make sure you file your tax return before or on the deadline of 31 January 2022. You can check here to see if you are a provisional taxpayer.
SARS is warning that those who fail to submit on time, will face penalties. Legislation has changed and you will have to pay penalties come February 2022 if you have not submitted one or more of your returns. This means that if you file your 2021 return after the deadline, SARS will levy an admin penalty.
Before, you only paid penalties when two or more of your returns were outstanding. The old rule will still apply to 2020 and earlier returns, for one year only.
The administrative penalty for filing a return late is a fixed amount penalty based on a taxpayer’s taxable income. It can range from R250 up to a whopping R16 000 a month for each month that the non-compliance continues.
SARS says it’s your legal obligation to file a tax return if you’re required to do so. This helps to create a culture of voluntary compliance. It also enables government to meet the needs of the poor by providing social grants and healthcare services.
If you’re a provisional taxpayer, you have until 31 January 2022 to submit your return.