Chartered Accountants

SARS Penalties for Late Submissions

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With effect from 1 January 2009, SARS will be imposing penalties on all outstanding Returns (including but not limited to PAYE, VAT, Provisional Tax, Annual Tax, STC etc).

These penalties are over and above the normal penalties. The penalty will be levied each and every month that a return is outstanding.

The penalty is dependant on the taxable income of the Taxpayer during the previous year of assessment and can range from R250 per month up to R16000 per month.

It is therefore imperative that all returns are submitted timeously.

The penalty is likewise applicable to late registrations and for not notifying SARS of change of address (amongst other things).

Additional information