Second Period Provisional Tax

Second Period Provisional Tax

By Selina Thompson (Payroll & Personal Tax Manager)
Second Period Provisional Tax
We are approaching the Second Period Provisional tax deadline for the 2019 financial year on Thursday, 28th February 2019 and all applicable entities need to submit by this date to avoid any unwanted penalties being issued by SARS. An individual is liable for Provisional Tax, should they earn income other than a salary. Separate legal entities such as Companies are automatically Provisional Taxpayers. As a Provisional Taxpayer, you are required to submit returns and/or make payments every six months to SARS (August and February). This ensures smaller payments spread over the relevant tax year instead of one large payment when the annual submission is due.

All Personal Tax Clients, due for Provisional Tax are currently being contacted, should any documentation be required. Kindly forward any applicable documentation to for the period 01 March 2018 to 31 December 2018 in order for estimations to be prepared accordingly.

Provisional estimations for Companies and Trusts have commenced, therefore you may have already received communication from the relevant Departments. Should we require further information from you, the Company and Trust Client Liaison Officers will be in touch. Kindly email or respectively.

For any queries, you are more than welcome to contact  Brendoline or Selina at our offices on 0860 994 094.

We believe that ‘Sharing is Caring’, and therefore we humbly encourage you to share this information freely with your friends and family. If you have any queries, please feel free to contact us on 0860 994 094 or contact the writer directly.

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