The IT14SD Successor
Effective 16 September 2022, the IT14SD was discontinued. Since its discontinuation, there has been an increase in verification / relevant material requests issued by SARS.
VERIFICATION & RELEVANT MATERIAL REQUESTS
Section 46 of the Tax Administration Act No. 28 (2011) (“TAA”) allows SARS to request the submission of relevant material within a reasonable period.
If reasonable grounds for an extension are submitted, SARS may extend the period within which the relevant material must be submitted. It is currently SARS’ practice to require the submission of relevant material within 21 days from the date of the SARS request.
It should also be noted that the request should refer to the relevant material with reasonable specificity.
TIPS WHEN RESPONDING TO A REQUEST
Usually, a SARS request is issued via SARS eFiling and the relevant material can also be submitted via SARS eFiling. Here are some tips to keep in mind when responding to a SARS request:
- Include a cover letter which addresses each matter outlined in the SARS request. Where any relevant material is not referred to in the SARS request with reasonable specificity, it is advisable to request additional information or guidelines from SARS in the cover letter.
- The SARS request should be submitted together with the relevant material.
- If possible, the relevant material should be submitted within the period outlined in the SARS request. If it is anticipated that this will not be possible, a request for extension should be submitted as soon as possible.
- The relevant material should be easy to follow and understand.
- After uploading any documents on SARS eFiling, ensure that the documents have been received by SARS by confirming that a Receipt of relevant material acknowledgement letter was issued via SARS eFiling.
- Continuously monitor SARS eFiling for any subsequent requests issued by SARS.
- Take appropriate steps where SARS does not complete the verification within a reasonable period.
if you have any queries regarding your corporate tax compliance, and other aspects related to SARS verification / relevant material requests. Please follow us on social media to keep track of tax-related developments.