Changes to SARS drop box time deadlines

From the 1st of May, payments to SARS will have to be dropped off at their offices by 15h00 on the date they’re due. If they aren’t, taxpayers could face late payment penalties and interest.

In the past, payments could be dropped off after working hours. The practice even extended to weekends so that where, for example, a payment was deposited in the SARS box on a Sunday, when received by SARS on the Monday morning, it would have been dated as received on the previous Friday. This will no longer be the case.

“The long-standing practice of regarding payments deposited at a SARS office after working hours on a particular day as having been received that day is over. The change was announced in a little-publicised Government Gazette notice earlier this month,” says Bernard Sacks, Tax Partner at global audit, tax and advisory firm Mazars.

From May, payments made under the Income Tax Act or the VAT Act using a SARS drop box on a business day received after 15h00 will be deemed to have been received on the first following business day.

TAXtalk: www.taxtalk.co.za

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