Tax Season 2014 for South Africa has been announced by the South African Revenue Service (SARS) which is started from 1 July, 2014. This is an important co-relation between government and taxpayers who make a vital contribution to the country’s tax system. The annual Tax Season is also important to complete and submit an Income Tax Return (ITR12) to SARS.
During Tax Season, taxpayers is required to submit an ITR12 (which is your Income Tax Return) so that they can calculate their tax liability based on their declared income and the tax-deductible expenses incurred for the assessment year (1 March – 28/29 February), which may, in some cases, result in a refund.
The Tax Season runs from July to November every year and for provisional taxpayers who submit via eFiling, until January of the next year.
