Sars latest news today 25th july 2022 tax directives

I'm happy to help you with the latest news on SARS (South African Revenue Service) tax directives as of July 25th, 2022. However, please note that tax laws and regulations are subject to change, and it's always best to verify the information with a reliable source, such as the SARS website or a tax professional.

That being said, here are some recent updates and directives from SARS:

  1. Tax Filing Season 2022: The SARS tax filing season for the 2022 tax year is open from July 1st, 2022, to November 22nd, 2022. Individuals and businesses are required to submit their tax returns within the specified timeframe to avoid penalties and interest.
  2. Tax Compliance: SARS has emphasized the importance of tax compliance, urging taxpayers to ensure they meet their tax obligations. Failure to comply with tax laws can result in penalties, fines, and even criminal prosecution.
  3. Tax Audit: SARS has announced plans to conduct tax audits on high-risk taxpayers, including those with complex tax affairs, high-income earners, and individuals with undeclared income. Taxpayers are advised to maintain accurate records and be prepared for audits.
  4. Value-Added Tax (VAT): SARS has clarified that VAT is applicable on certain digital services, including online gaming, music streaming, and e-books. Taxpayers providing these services are required to register for VAT and charge the applicable rate.
  5. Tax Deductions: SARS has updated the list of tax deductions and allowances for the 2022 tax year. Taxpayers are advised to review the updated list to ensure they are claiming all eligible deductions.
  6. Tax Payments: SARS has introduced a new payment method for taxpayers, allowing them to make payments online using a credit or debit card. This service is available on the SARS website.
  7. Taxpayer Registration: SARS has emphasized the importance of registering for a Taxpayer Registration Number (TRN) for all businesses and individuals. A TRN is required for tax compliance and is used to identify taxpayers.

Please note that this is not an exhaustive list, and it's essential to stay informed about the latest tax directives and updates from SARS. You can visit the SARS website or consult with a tax professional to ensure you are meeting your tax obligations and taking advantage of available tax benefits.