The South African Revenue Service (SARS) has launched a new transfer duty system that will enable conveyancers to access and submit declaration forms on the net electronically.
The initiative is aimed at improving client service, modernise SARS processes and ensure easy compliance with all tax laws.
From now onwards, conveyancers will be able to submit transfer duty declaration forms and effect transfer duty payments electronically once they have registered as e-filers on the SARS website.
The transfer duty declarations, REV 683, REV 684 and VAT 249 have been revised and redesigned and the new declaration forms (TD1, 2, 3, 4, 5, 6 and 7) are already available on the SARS website.
These forms must be used for all transactions concluded on or after 01 May 2005.
The conveyancers will need to scan copies of the deeds of sale and submit them with the declarations signed electronically on behalf of the buyer and seller. The scanned copies would then have to be submitted electronically to a SARS office closest to where the property is situated.
This would then enable SARS to authorise the issuing of transfer duty receipts or exemption certificates and provide for the extraction of such receipts or exemption certificates.
For further information visit the SARS website on www.sars.gov.za or contact Sechaba Nkosi at (012) 422 5046 or 082 465 2901.
ISSUED BY THE COMMISSIONER FOR THE SOUTH AFRICAN REVENUE SERVICE