|
Deductions from salaries and bank accounts
Pretoria, 8 July 2010 – Following numerous queries regarding the announcement that SARS intends to deduct unpaid administrative penalties from salaries and bank accounts beginning in September, the South African Revenue Service (SARS) would like to reassure taxpayers that this planned step is a last resort that affects only a minority of non-compliant taxpayers.
The administrative penalty system became law on 1 January 2009, after extended public consultation in 2008. In October last year SARS warned taxpayers with multiple outstanding returns that they would be affected by the first phase of the system’s implementation. These taxpayers were given a final opportunity to correct their non-compliance before penalties were imposed. Read more... |
|
1
Item
|
2
Assessed loss or taxable income for preceding year |
3
Penalty |
|
(i) |
Assessed loss |
R250 |
|
(ii) |
R0 – R250 000 |
R250 |
|
(iii) |
R250 001 – R500 000 |
R500 |
|
(iv) |
R500 001 – R1000 000 |
R1 000 |
|
(v) |
R1 000 001 – R5 000 000 |
R2 000 |
|
(vi) |
R5 000 001 – R10 000 000 |
R4 000 |
|
(vii) |
R10 000 001 – R50 000 000 |
R8 000 |
|
(viii) |
Above R50 000 000 |
R16 000 | |
