SARS has attributed the increase in the number of tax returns that have been filed to strict non-compliance penalties its put in place.
The punitive penalty regime introduced a few years ago is the main driver behind the growing number of tax returns being filed on time and outstanding returns being filed sooner rather than later, said SARS in a BDlive report.
According to FSPBusiness, you could face a jail term of two years or face a fine if you do the following:
If you haven't filed your 2013 tax return, you'll also be glad to know 'SARS has paid more than R6bn in refunds to more than 1-million taxpayers, which is an increase on the number and value of refunds paid in 2012,' BDlive reports.
While the levels of compliance are laudable, SARS will come after you if you fail to submit your return. So make sure you submit yours to avoid penalties.
The deadline for you to submit your returns electronically is 22 November 2013 and if you want to submit your return by mail or at any dedicated SARS drop box your deadline is September 2013.