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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.
In many instances, SARs have been instrumental in enabling law enforcement to initiate or supplement major money laundering or terrorist financing investigations and other criminal cases. [8] Information provided in SAR forms also presents governments with a method of identifying emerging trends and patterns associated with financial crimes.
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.
In recognition of these benefits, various arms of the South African government have embarked on a number of e-government programmes for example the Batho Pele portal, SARS e-filing, the e-Natis system, electronic processing of grant applications from remote sites, and a large number of departmental information websites. Also a number of well ...
The tax is levied at 1% of the total salary paid to an employee, which includes any lump sum payments, bonuses, overtime payments, payment in lieu of leave, and commissions. The tax is paid by the employer to SARS on a monthly basis as part of the monthly employer declaration (EMP201).
Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account.
Credit bureau - A credit bureau is an entity that is engaged for payment in the business of receiving reports or investigating credit applications and agreements, payment history or patterns, and other consumer credit information. Debt counselors - Debt counselors are not defined in the Act. The NCR's “Debt Counsellor Training Program ...
TymeBank is a South African digital bank aimed at the lower income market. [1] [2] Headquartered in Rosebank, Johannesburg, TymeBank does not have any physical bank branches and relies on an Android banking App, and Internet Banking site and a partnership with two retail chains, Pick n Pay and Boxer, to host a national network of self-service kiosks that facilitate the account opening process.