Tax Break

SARS Media Release 2020

23 April 2020 – Press release from Treasury: Further Tax Measures to combat the COVID-19 pandemic.

The Minister of Finance announced the details of an initial set of measures on 29 March 2020 to assist tax compliant businesses with cash flow assistance and provide an incentive for businesses to retain their lower income employees

8 April 2020 – Disaster Management Tax Relief for Employees’ Tax, ETI and Provisional Tax. This video focuses on the Disaster Management Tax Relief for Employees’ Tax, ETI and Provisional Tax. Government has proposed certain tax relief measures aimed at alleviating cash flow problems during the COVID-19 outbreak. These Tax Relief Bills, includes tax relief for businesses in respect of provisional taxes, employees’ tax and an expansion of the employment tax incentive. The video is segmented into three areas focusing on the three main categories.

Disaster Management Tax Relief for Employees’ Tax, ETI and Provisional Tax

1 April 2020 – SARS REVENUE ANNOUNCEMENT – SARS has collected an amount of R1 356.0 billion in the financial year ending 31 March 2020. In total, SARS collected a gross amount of R1 647.8 billion which was offset by refunds of R291.9 billion. For more info click here.

30 March 2020 Media Release – SARS PAYS R2.4 BILLION IN REFUNDS DURING LOCKDOWN. Pretoria, Monday 30 March 2020 – South Africa like many countries in the world continue to battle with the economic and health impact arising from the COVID 19 pandemic. SARS is fully aware of the devastating effect on the lives of our people, the risk to businesses and an already struggling economy. Consequently, we are committed to maintain the essential services of SARS to mitigate these unfavourable conditions.

In discharging this responsibility, SARS is balancing the safety of our staff, taxpayers and traders, while ensuring that our economy is able to function. As of today, SARS has paid out refunds to taxpayers amounting to R2.4 billion over the four days of lockdown, from Friday 27 March.The refunds comprise payments to Large Business amounting to R1.1 billion and payments to Small, Medium and Micro Enterprises (SMMEs) amounting to R1.3 billion.

29 March 2020 – The Minister of Finance announced exceptional tax measuresThe Minister of Finance has announced the following exceptional tax measures as part of the fiscal package outlined by President Cyril Ramaphosa on 23 March 2020 in his speech on the Escalation of Measures to Combat COVID-19.

These measures are over and above the tax proposals made in the 2020 Budget on 26 February 2020. The tax adjustments are made in light of the National State of Disaster and due to the significant and potentially lasting negative impacts on the economy from the spreading of the COVID-19 virus. There is a critical need for government interventions to assist with job retention and assist businesses that may be experiencing significant distress: Read more

25 March 2020 – Dear Taxpayer, As you are aware, we are entering an unprecedented period in our history as a young democracy. It is a time in which we need to show social solidarity by taking care of ourselves and all South Africans.

The President of South Africa Mr Cyril Ramaphosa has announced a nationwide lockdown with effect from midnight on Thursday 26 March 2020 in view of the escalating COVID-19 pandemic.

Taking into account the devastating economic impact of this pandemic, the President also announced a number of measures to help tax compliant companies in distress and their affected employees, especially Small, Medium and Micro Enterprises (SMMEs). To give effect to the President’s lockdown instructions and to minimise face-to-face contact, I wish to inform you that SARS has taken a decision to ensure that alternative processes are in place so that you can engage with SARS. These include: .. read more.

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