SOUTH AFRICAN REVENUE SERVICE
PRESS STATEMENT

17 MARCH 2004

SPLIT CHEQUES

The South African Revenue Service (SARS) would like to remind corporate taxpayers to ensure that they separate payments for each of the taxes they pay from the end of the month.

SARS has been informed that First National Bank will no longer accept a single cheque for all the payments from 1 April 2004 as this is not a standard banking practice.

In the past, corporate taxpayers could complete three deposit slips and make payment with one cheque for the EMP201 return. The FNB has withdrawn this allowance to taxpayers and SARS.

From next month corporate taxpayers will have to issue a separate cheque each for Pay as You Earn (PAYE), Unemployment Insurance Fund (UIF) and Skills Development Levy (SDL).

Taxpayers should also guard against depositing payments for all three taxes into one account as this could result in penalties and interest being levied on payments not deposited correctly. Incorrect deposits could also lead to demands for payment (EMP208?s) being issued for SDL, UIF and/or PAYE.

SARS would also like to remind employers to make use of its free e-filing service to pay for the three taxes. Corporate taxpayers can file and make electronic payments for EMP201 returns, VAT 201 returns and Provisional Tax returns (IRP6) through this electronic facility.

ISSUED BY THE COMMISSIONER FOR THE SOUTH AFRICAN REVENUE SERVICE
PRETORIA



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