The South African Revenue Service (SARS) wish to remind taxpayers and vendors that the last day of payment for Income Tax and Value-Added-Tax (VAT) for the current financial year will be Friday, 30 March 2007.
The relevant Acts determine that if the last day for payment of tax, interest or penalties falls on a Saturday, Sunday or a public holiday, such payment must be made on the last business day prior to the weekend or public holiday.
The last business day for the current financial year is Friday 30 March 2007 and SARS wants to encourage taxpayers to ensure that timeous payments are made to avoid a situation where penalties or interest may be charged for late payments.
The payment procedures apply to both businesses and individuals.
ISSUED BY THE COMMISSIONER FOR THE SOUTH AFRICAN REVENUE SERVICE