Tax Season Launched in South Africa

July 2, 2015 Taxation in South Africa

PRETORIA – The tax season in South Africa has launched with a good start, lending credibility to the goal of raising SAR 1.1 billion from income taxes this year.

At midnight on June 31st the tax season in South Africa was opened, and by the end of the day on July 1st a total of 67 231 tax returns had already been filed.

The number of taxpayers filing their tax returns online in the first day in 2015 is 7 000 more than the number seen in the previous year, and according to a spokesperson for the South African Revenue Service Luther Lebelo, the good start to the tax season is a strong sign that South Africans have high confidence in the national tax system.

Luther Lebelo also added that this year the minimum threshold for tax filing has been raised to a level of SAR 350 000 from last year’s level of SAR 250 000.

Over the rest of the tax season the SARS aims to collect a total of SAR 1.1 trillion paid in income taxes, while in 2014 the goal for the year was set at SAR 984.7 billion.

Photo By: Kyknoord