The official website of SARS is www.sars.gov.za. SARS stands for The South African Revenue Service. Legislation established SARS to collect revenue and ensure compliance with tax law. Vision of SARS is to be innovative revenue and supports South Africa's integration into the global economy in a way that benefits all citizens.
The main functions of SARS are, to collect and administer all national taxes, to duties and levies; to provide protection against the illegal importation and exportation of goods; to collect revenue that may be imposed under any other legislation, as agreed on between SARS and an organ of state or institution entitled to the revenue; to facilitate trade; and to advise the Minister of Finance on all revenue matters.
An enhanced, transparent and client-orientated service is aimed to be provided by SARS to make sure best and unbiased collection of revenue. It is said in the statement that "SARS has received a number of requests from tax practitioners and their representative associations for an extension to this year's tax season deadline". SARS has already decided to give more than 3 months time for provisional taxpayers in good standing with SARS to submit their annual income tax returns.
SARS Tax table for 2010:
| Taxable Income | Tax Rate |
|---|---|
| R 0 - R 132 000 | 18% |
| R 132 001 - R 210 000 | R 23 760 + (25% of amount above R 132 000) |
| R 210 001 - R 290 000 | R 43 260 + (30% of amount above R 210 000) |
| R 290 001 - R 410 000 | R 67 260 + (35% of amount above R 290 000) |
| R 410 001 - R 525 000 | R 109 260 + (38% of amount above R 410 000) |
| R 525 001 and above | R 152 960 + (40% of amount above R 525 000) |
Rebates:
- Primary rebate: R9 756
- Secondary rebate: R5 400
Tax Thresholds:
- Below 65 years: R54 200
- 65 years and above: R84 200
- Personal Services Trusts: 40%
- Personal Services Companies: 33%
Subsistence Allowance:
- R260 per day for meals and incidentals for travel inside the RSA
- R80 per day for incidentals for travel inside the RSA
- A schedule of rates per country for travel outside the RSA
Visit The South African Revenue Service website for more information.
You Might Also Like :
- Review of HMRC Employers Portal (hmrc.gov.uk)
- India tour of South Africa 2010/11 Schedule: Cricket Game Fixtures
- How to use Servicetax.gov.in for Service Tax Online Payment?
- Login to Email & Self Admin account at www.mweb.co.za
- FIFA Confederations Cup South Africa 2009 Finals Scheduled in Johannesburg
- Yahoo!’s Invictus Journey to South Africa Promotion More information at invictusjourney.com
Recently Discussed Articles
6 weeks 13 hours ago
7 weeks 12 hours ago
7 weeks 13 hours ago
8 weeks 18 hours ago
11 weeks 1 day ago
17 weeks 5 days ago
18 weeks 1 day ago
26 weeks 5 days ago
27 weeks 11 hours ago
28 weeks 1 day ago