SARS apologises to taxpayers for legal threats

Loading player...
GUEST - Adelaide Kekana – Founder and MD of Tax Co and Asssociates

Business owners in South Africa may have received an unwelcome SMS from the South African Revenue Service (SARS) this week warning them of potential legal action should they fail to submit their returns.

The SMSes were sent out as this week the deadline for non-provisional taxpayers was this 23rd October.

With many taxpayers understandably taken aback by the text messages from SARS, the agency has since issued an apology, along with putting a hold on said SMSes.

“The SMS that was sent out earlier this week, in relation to outstanding returns fell short of the high professional standard we seek to uphold. SARS therefore sincerely apologises for the manner in which this matter was handled, the frustration it may have caused honest taxpayers, and any inconvenience caused,” it shared in a statement.
26 Oct 2023 4PM English South Africa Business News · Investing

Other recent episodes

AGOA Extended: Certainty or Illusion?

The US has extended the African Growth and Opportunity Act (AGOA) to 2028, stabilising duty‑free access for African exporters. But is this really a win, or just temporary certainty? Oxford Economic’s Jervin Naidoo explains what the extension means for South Africa’s auto industry, Kenya’s textiles, and Africa’s trade outlook in…
24 Sep 1PM 19 min

Your Retirement, Your Rules: ETFSA’s Starter Pack Explained

Retirement planning doesn’t need to be intimidating. Suzan Ramotshabi breaks down the biggest barriers stopping South Africans from investing, including Black Tax and fear of making mistakes. She explains how the Starter Pack works, additional ETFSA solutions, and the one step listeners can take today to begin their retirement journey…
23 Sep 1PM 22 min

SARB Tightens: What the 25bps Hike Means for You

The SARB surprised markets with a unanimous vote to hike rates by 25bps, landing against rising inflation expectations and global volatility. Johann Els unpacks the policy mood shift, the 4.4% inflation print, rand vulnerability, and how this decision affects credit conditions, household budgets, and South Africa’s growth outlook heading into…
23 Sep 12PM 14 min

The State of SA Insurance: Climate, Claims & Consumer Strain

South Africa’s insurers are navigating a perfect storm: higher catastrophe losses, rising claims inflation, affordability strain, and a shifting risk landscape shaped by climate volatility and crime. Santam’s Partner Solutions CEO, Gugu Mtetwa, unpacks the sector’s resilience, the worsening underinsurance problem, consumer behaviour shifts, and how insurers are adapting to…
22 Sep 1PM 24 min

Measured Momentum in SA Banking: Earnings Up, Risks Rising

South Africa’s major banks delivered headline earnings growth of 9.3% to R82.3 billion, stronger ROE at 20.5%, and improved cost‑to‑income ratios — but beneath the numbers lies a fragile domestic recovery and renewed inflation pressure. PwC’s Rivaan Roopnarain breaks down the competitive dynamics across retail, business, corporate and payments ecosystems,…
22 Sep 1PM 14 min