{"id":560780,"date":"2022-02-21T10:29:04","date_gmt":"2022-02-21T08:29:04","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=560780"},"modified":"2022-02-21T10:29:04","modified_gmt":"2022-02-21T08:29:04","slug":"sars-is-fining-taxpayers-who-didnt-review-their-auto-assessments","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/560780\/sars-is-fining-taxpayers-who-didnt-review-their-auto-assessments\/","title":{"rendered":"SARS is fining taxpayers who didn&#8217;t review their auto-assessments"},"content":{"rendered":"<p>The South African Revenue Service (SARS) has announced that a once-off admin penalty will be imposed on taxpayers who failed to review auto-assessments.<\/p>\n<p>In a note on Monday (21 February), the revenue collector said that the penalties will apply to two groups of taxpayers:<\/p>\n<ul>\n<li>Taxpayers that were selected for auto assessment and failed to accept, decline, or edit and then file their return after SARS issued an original based on estimated return (auto).<\/li>\n<\/ul>\n<ul>\n<li>All provisional and non-provisional taxpayers that were not auto assessed and submitted a return post-filing season and pre-imposition of the recurring admin penalty.<\/li>\n<\/ul>\n<p>&#8220;Just like the Personal Income Tax (PIT) outstanding return recurring admin penalty, the once-off admin penalty can be adjusted or cancelled,&#8221; it said. &#8220;As part of the admin penalty process, SARS will adjust the admin penalty amount if there\u2019s any change to the taxable income where a once-off admin penalty was already imposed.&#8221;<\/p>\n<p>It added that:<\/p>\n<ul>\n<li>The change in the taxable income may be because of a revised declaration, a dispute (NOO\/NOA) against the rejected or edited return and is allowed or partially allowed leading to the taxable income being different to the initial taxable income utilised to determine the once-off admin penalty amount.<\/li>\n<\/ul>\n<ul>\n<li>A penalty adjustment letter will be issued to the taxpayer to inform the Taxpayer of the admin penalty adjustment.<\/li>\n<\/ul>\n<p>&#8220;If it has been determined that SARS has erroneously imposed the once-off admin penalty on taxpayers, SARS will cancel the admin penalty transactions and related debt and update taxpayer\u2019s admin penalty account,&#8221; it said.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/finance\/560338\/south-africas-tax-base-is-shrinking-3\/\" target=\"_blank\" rel=\"noopener\">South Africa\u2019s tax base is shrinking<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The South African Revenue Service (SARS) has announced that a once-off admin penalty will be imposed on taxpayers who failed to review auto-assessments.<\/p>\n","protected":false},"author":10,"featured_media":80497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26],"class_list":["post-560780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/560780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=560780"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/560780\/revisions"}],"predecessor-version":[{"id":560796,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/560780\/revisions\/560796"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/80497"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=560780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=560780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=560780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}