SARS warns taxpayers to check their bank details before June 30

VAAL TRIANGLE - The South African Revenue Service (SARS) has warned that time is running out for taxpayers to make sure their banking details are correct and up-to-date as tax season approaches. SARS this week issued a warning to taxpayers that these details are important for its auto-assessment processes, with these assessments rolling out from 1 July 2024. This means taxpayers have until 30 June to correct and update their details. SARS said this year from 1 July 2024, they will again issue auto-assessments to taxpayers whose tax affairs are less complicated. If a taxpayer agrees with their auto-assessment, then there is no need to ‘accept’ the assessment. If a refund is due, it will automatically be paid into the registered bank account. If these banking details are not correct at the time of the auto-assessment, and refunds due will not be successfully processed and taxpayers will have to get in contact with SARS. Taxpayers who do not agree with their auto-assessments will have to file a tax return manually.

PHOTO: (Supplied)