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SARS eFiling is the South African governments official online tax returns submission portal for the South African Revenue Service (SARS). SARS eFiling provides free services to individual taxpayers, trusts, companies and tax practitioners to submit tax returns, submit declarations and make relevant payments in an online environment.
Effectively, SARS manages, administers, and implements the tax regime as designed by the Minister and National Treasury. SARS was established in 1997 by a merger of the customs and inland revenue departments, at the recommendation of the Katz Commission, which had been instituted to review the South African tax system for the post-apartheid era.
Many different types of finance-related industries are required to file SARs. These include: [9] depository institutions (for example, banks and credit unions) securities and futures dealers (for example, stock brokers and mutual fund brokers) money services businesses (for example, check cashing services, currency exchange bureaus, and money ...
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The intermediary later files a tax return and forwards the tax proceeds to government with the return. Of the R1 216 billion collected by SARS in 2017/2018, 93% (or R1 133 billion) came from taxes on both Personal and Company Income and Profits, and taxes on Domestic Goods and Services, [2] a combination of both direct and indirect taxes.
Banks are required to file "Suspicious Activity Reports" (SARs) for all cash deposits (whether truly suspicious or not) above a threshold that has not been raised in 50 years. Read On The Fox News App
Some steps the government wants to take in order to increase their E-government services are to develop more online functions, use government sites to integrate on-line services, have supplementary open data available to citizens to further government transparency, and to combine services from local and country-wide governments for convenience ...
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