SARS penalties now R2 000 per month for late personal tax returns
Now I’m disgusted.
A new client whose personal tax return was due in November 2022 didn’t submit until January 2023. It was a perfectly straightforward return and his tax came to R75 000. He had paid R68 000 in PAYE so there was R7 000 still to pay. All well and good.
But SARS had hit him with R2 000 per month, R6 000 in total, Administrative Penalties for late submission!
Now, I know SARS has the authority to impose these penalties, but the punishment is so excessive in relation to the crime, that I can’t help thinking that there’s something fundamentally wrong here.
That having been said. Watch out! You could be next.
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