SARS Tax Deadlines

Individual tax:

7 July 2023

• The 2023 tax season opens

31 August 2023

• The first provisional tax return for the 2024 tax year is due.

30 September 2023

• Third provisional tax return and top-up payment for the 2023 tax year for individuals who are provisional taxpayers and still owe money to SARS after the first and second provisional tax returns were submitted and paid in August 2022 and February 2023.

23 October 2023

• Non-provisional taxpayers 2023 tax returns due.

24 January 2024

• Provisional taxpayers 2023 tax returns due

29 February 2024

• Second provisional tax return and payment for the 2024 tax year due

Corporate income tax:

Depending on the year-end, the first provisional tax return will be six months after the start of the financial year. The second return will be 12 months after the start of the financial year end. The annual income tax return will be 12 months after the financial year end.

Let us say Company A has a financial year end of 28 February 2023. The first provisional tax return and payment will be due on 31 August 2023 (or closest business day). The second provisional tax return and the previous year’s (2023) annual tax return will be due on 28 February 2024.

Company B has a financial year end of 30 June 2023. The first provisional tax return and payment were due on 31 December 2022 (or closest business day). The second provisional tax return and the previous year’s (2022) annual tax return will be due on 30 June 2023.

There is also the third provisional return and top-up for entities that still owes money to SARS after the first and second provisional returns.

PAYE:

PAYE is due the seventh (or closest business day) of the following month after payroll.

The PAYE for the February 2023 payroll cycle will be due on 7 March 2023.

EMP501 reconciliation:

The final reconciliation will be for the 12 months ending on 28 February.

• due by 31 May annually and the filing season normally opens in mid-April.

The midterm reconciliation for the first six months of the tax year ending on 28 February,

• due by the 31st of October. The filing season normally opens in mid-September.

VAT:

Depending on the VAT category, Vat returns, and payments are due the month following the VAT period.

Category A:

Every second month with uneven months, i.e., January, March, May, July, September, and November. The due dates will be the end of every even month.

Category B:

Every second month with even months, i.e., February, April, June, August, October, and December. The due dates will be the end of every uneven month.

Category C:

Every calendar month. The due date will be the end of the following month following the return month.

Category D:

Every six months. The due date will be the month following the six months return period.

Category E:

Every 12 months. The due date will be the month following the 12-month Vat period.

Donations tax:

This is due and payable at the end of the month following the month in which the donation was made.

Security transfer tax (“stt”):

For listed securities:

STT is due by the 14th day of the month following the month in which the transfer was made.

For unlisted securities:

STT is due by two months from the end of the month in which the transfer was made.

Excise duty:

This depends on the type of product. Visit the SARS website to view your products’ deadlines.

Avoid interest and penalties accumulated on late or incorrect submissions

***Contact us for assistance with meeting your tax deadlines and staying compliant***

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