IMPLEMENTATION OF TAX-RELATED COVID-19 MEASURES

Last week, SARS announced the implementation of measures to ensure the safety of all of its employees and clients. It is expected that these measures will be tightened as a result of President Cyril Ramaphosa’s announcement of a nationwide lockdown in light of the COVID-19 pandemic.

Want to know more about the SARS measures and the measures announced by President Ramaphosa?

SARS COVID-19 MEASURES

The following queries can be attended to via SARS eFiling:

Enquiries with respect to outstanding debt and making payments.
Enquiries with respect to outstanding returns.
Requesting Tax Compliance Status.
Obtaining a Notice of Registration (IT150).
Filing of tax returns.
Updating personal details (including bank details).
Requesting a Statement of Account.
Income tax registration.
Submission of supporting documents for an audit case.

COVID-19 MEASURES ANNOUNCED BY THE PRESIDENT

Herewith a summary of some of the measures announced by President Ramaphosa on 23 March 2020:

The government will provide seed capital of R150 million to qualifying recipients.
The government is considering a special dispensation for businesses that are in financial distress as a result of COVID-19.
Employees that contract COVID-19 at their place of work will be able to submit a claim at the Workmen’s Compensation Fund.
A tax subsidy of up to R500 per month for the next 4 months for private sector employees earning below R6 500 will be implemented under the Employment Tax Incentive Scheme.
There will be an acceleration of the payment of employment tax incentive reimbursements from twice a year to monthly.
Tax compliant businesses with a turnover of less than R50 million will be allowed to delay 20% of their PAYE liabilities over the next 4 months, and a portion of their provisional corporate income tax payments, without penalties and interest over the next 6 months.
Possible temporary reduction of employers’ and employees’ monthly UIF contributions and employers’ monthly contributions to the Skills Development Fund.
The Department of Small Business Development has made over R500 million available immediately to assist SMEs that are in financial distress through a simplified application process.