Payments to SARS

The existing manual payments methods to SARS are:

• Cash and cheque deposits at FNB, Absa and Nedbank directly into the SARS account using the Beneficiary IDs
• Electronic Funds Transfer (EFT) for those using internet banking via FNB; Absa, Standard Bank and Nedbank,
• Directly to the SARS account also using a Beneficiary ID. Ensure that your bank caters for EFTs of over R5 million
• Cheque and cash payments directly to SARS at various SARS offices, which SARS deposits into our bank account,provided the value is less than 5 million

SARS eFiling provides additional convenience, reliability and accuracy for electronic payments. Using efiling also makes good business sense because it allows you to delay VAT payments to SARS, thereby improving your cash flow position

Currently these are two electronic payment facilities at your disposal to select from if you wish to make a payment through eFiling.The normal return payment facility and the ADHOC payment facility. The ADHOC payment facility can be used to make a payment in respect of any tax product or additional payment in respect of outstanding taxes and does not require a return to be submitted with the payment

Please note that as from the end of June 2007, clients will be able to use the ADHOC payment facility to make Customs and Air Passenger Tax payments to SARS

VAT returns and payments are usually due on the 25th of the month but those using eFiling are allowed to submit their VAT returns and payments on the last business day of the month. This concession can have significant benefits for business for example:

The 25th of December 2006 is on a Monday, which will be a public holiday (Christmas Day). Using the manual payment method you would need to submit payment by the 22nd of December. Using the enhanced electronic payment method provided by SARS eFiling you will only need to make the payment on the 31st of December, thus having the money available to you for an additional 9 days

Please note that both the return and payment must be submitted via eFiling for this payment type. It is however imperative to note that where the eFiling ADHOC payment facility is used in respect of any return already submitted this concession does not apply

All payments received through eFiling are reconciled through an automated reconciliation process ensuring that payments are accurately allocated to taxpayer accounts and the occurrence of "missing or unallocated payments" is eliminated .

The convenience of making the payment from the SARS eFiling service will ensure a secure interface directly with the bank of your choice .

Please note that as long as you are paying using the existing manual method, the manual payment dates will apply as the 25th (or the preceding business day) of the month for VAT201 and the 7th (or the preceding business day) of the month for the EMP201 (PAYE/SDL/UIF) respectively.