The income tax declaration season is now open, and many taxpayers are eagerly awaiting a refund after submitting their returns. SARS will refund the taxpayer who should be refunded within a day or two. However, since 2014, tax consultants and auditors have seen various changes in the process leading to refund delivery. The question is, why is the SARS process now extended and what are the three main reasons why taxpayers wait for longer tax rebates?
1] Bank details on RAV01 are invalid
According to SARS' recording invalid bank details may delay the refund. To prevent fraud, SARS is verifying many taxpayers. Bank info. Before submitting your income tax return, please ensure that the bank details reflected on your RAV01 form [available in the SARS electronic application] are reflected as valid. If you have changed your bank details since the last time you submitted your tax return, please update your details on the RAV01 form and submit your return. In some cases, SARS may ask you to visit your nearest SARS branch to verify changes to your bank details. You will receive a written notice. Please note that specific documentation will be required [please be sure to check before entering SARS].
2] SARS special plug:
Special plugs placed on refunds can only be lifted at the SARS branch. You will need to provide SARS with proof of your address, a copy of your ID and proof of bank statement for no more than 3 months, and stamped by the bank.
3] Verify your tax return:
The number of taxpayers in South Africa who choose to conduct a review or verification has increased significantly. If SARS requires supporting documentation, be sure to upload all relevant documentation for the income and expenses of the claim at the time of return. It is recommended to develop a timeline for summarizing [for example] all medical expenses. If you have obtained a travel permit, please remember to attach a detailed log and proof of purchase of a motor vehicle.
The South African Taxation Office ["SARS"] has published a deadline for filing income tax returns. The due date depends on how the tax return is filed. These deadlines do not apply to companies that need to submit an electronic filing through a 12-month period after the end of the fiscal year.
The 2017 tax season will be officially launched on July 1, 2017, and individual taxpayers will be able to file tax returns for the tax year ending February 28, 2017. E-tobacco will be ranked first, and the SARS branch and contact center will be available for assistance on July 1st, 2017.
The "Income Tax Law" has been amended to prevent administrative penalties for violations. These penalties range from R250 to R16000 per month. Make sure you have all the supporting files, because if you are selected for review, SARS may ask you to provide such files. Protect the support documentation for at least five years in case SARS needs to access them in the future.
Orignal From: What is the delay in getting a SARS refund?
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