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How Much Is the Fine for Late VAT Return?

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How Much Is the Fine for Late VAT Return?

Late submission of VAT returns can result in financial penalties, which vary based on certain factors. This guide explores the penalties for late VAT return submissions in South Africa, how late payment interest and penalties are calculated, the process of appealing a late VAT payment, and the latest date for submitting a VAT return.

How Much Is the Fine for a Late VAT Return?

In South Africa, late VAT returns now incur a monthly penalty of at least R250 per outstanding return as of the latest update in May 2023. The penalty can reach up to R2,000 per outstanding return per month, meaning a potential R4,000 in penalties monthly. Before this change, there was no specific penalty for late VAT submissions, but a 10% penalty was applied for late VAT payments. In certain cases, SARS may also impose a 10% penalty on the VAT liability immediately.

What Is the Penalty for Late VAT Submission?

Late submission of VAT returns in South Africa can result in penalties. As of the information available, no penalty is imposed for the late submission of a VAT return. Nevertheless, a 10% surcharge is enforced for delayed VAT payments. If you miss the VAT deadline, you will incur a 10 percent penalty on the overdue sum. It’s crucial to stay informed that these details might undergo modifications. Therefore, it’s recommended to cross-check the latest guidelines from the South African Revenue Service or consult with a tax specialist for the most recent updates.

How Do You Calculate VAT Late Payment Interest and Penalty?

Calculating VAT late payment interest and penalties in South Africa is essential to avoid unnecessary financial repercussions. Below is a general guideline on how these charges are typically calculated:

  1. Late Payment Penalty: As mentioned earlier, a 10% penalty is imposed for late VAT payment. This penalty is calculated based on the outstanding VAT not paid by the due date.
  2. Late Payment Interest: Besides the penalty, late payment interest may also be applied. The interest is calculated on the outstanding VAT amount from the due date until the payment date. The interest rate can vary and is typically set by the South African Revenue Service.

It’s important to stay current with the specific interest rates and penalty calculations, as they may change over time. You can find this information on the official SARS website or consult a tax advisor for the most accurate and current details.

How Do I Appeal a Late VAT Payment?

If you believe you have been unfairly penalized for a late VAT payment in South Africa, you can appeal. Here are the general steps to follow when appealing a late VAT payment:

  1. Contact SARS: Begin by contacting the South African Revenue Service. You can approach them directly by visiting their offices, dialing their helpline, or utilizing their user-friendly online services. Ensure you furnish them with all the pertinent details concerning your situation.
  2. Lodge an Appeal: SARS will provide you with step-by-step instructions on how to initiate the appeal process. This may involve completing a formal appeal form or providing supporting documents.
  3. Review and Response: SARS will review your appeal and respond with a decision. They may demand extra info or explanation during this analysis and response process.
  4. Decision: Once your appeal is reviewed, SARS will make a decision. In a successful appeal, the penalties and interest could be reduced or even waived entirely. However, if the appeal doesn’t yield the desired result, fulfilling the assessed penalties and interest is crucial.
  5. Legal Recourse: Should you find the outcome of the appeal unsatisfactory, you can seek legal advice or explore other legal avenues available.

Adherence to the outlined procedures by SARS for appeals and the provision of comprehensive documentation to bolster your case is essential. Also, consult a tax professional if you encounter challenges during appeals.

What Is the Latest Date For VAT Return Submission?

Your specific tax period determines the deadline for submitting VAT returns in South Africa. Businesses commonly submit their VAT returns monthly or every two months. The tariff submission time frame is usually highlighted as the last working day of the coming month after the end of the tariff period.

It’s always advisable to verify the specific deadline for your VAT return with SARS, as they might differ based on your business and the applicable time frame. Late submission of VAT returns can lead to penalties, so knowing your specific filing deadlines and ensuring compliance with SARS regulations is crucial.

In conclusion, the penalty for late VAT submission in South Africa is a 10% penalty on the late payment of VAT. Late payment interest may also apply, and the calculation is based on the outstanding VAT amount. To appeal a late VAT payment, follow the procedures the South African Revenue Service sets. It’s essential to know the deadline for submitting your VAT return, as it varies based on your tax period. Staying informed about the latest regulations and seeking professional advice when needed is crucial to avoid penalties and ensure compliance with South African tax laws.

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SRD sassa grant

SASSA Status Check-SRD Status Check 2023/2024

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Everything you need to know about the SASSA status check for the R350 covid relief grant, including payment dates and how to collect it. Also referred to as the SRD status check. The South African Social Security Agency publishes the SRD R350 Social Relief Grant Payment Schedule every month (SASSA). This is the organization in charge of distributing and providing government assistance for South Africa’s special Covid-19 Social Relief benefit. They are also in charge of distributing financial aid to recipients of disability grants and child support grant recipients. The African government established these various types of grants to assist disadvantaged or unemployed citizens

How Do I Check My SASSA Status 2023/2024?

There are several ways to check your sassa status and receive your R350 social grant payment. The Moya App on your smartphone is one way to check status. You can also check your SASSA SRD status using your cell phone via SMS or WhatsApp

Bank Account Payment

Receiving payments through your bank account is probably the most convenient and fastest way to receive the grant; you can also avoid queuing in person at the Post Office. The amounts for each month will be deposited into the beneficiary’s bank account in accordance with the grant application.Please keep in mind that the bank account information or cellular phone number provided for payment MUST be registered in the name of the approved applicant used in the Covid-19 R350 grant application process to ensure that payment reaches the intended recipients. When you run the sassa status check, any incorrect details will be highlighted. If you believe your bank account information is incorrect, you should update it by logging into the portal.

How to Update SASSA Banking Details for R350

If you are an approved beneficiary of the SASSA SRD R350 Grant, updating your SASSA banking details is simple; simply follow the steps below to get started

  • Go to srd.sassa.gov.za.
  • Click on the suitable button “SA ID Holder” or “Asylum Seekers and Special Permit Holders”.
  • Scroll to “How do I change my banking details”.
  • Submit your ID Number.
  • An SMS containing a secure link, unique to you, will be sent to the mobile phone number with which you registered during the application.
  • Click on the link in the SMS.
  • Follow the instructions carefully.

sassa srd payment collection

You will only be able to collect the grant money once you have received an SMS confirmation that payment has been confirmed. After you’ve completed the sassa payment status check, use the table below to see the SRD Grant Payment Dates for this month.

Updates To Payment Collections

  • SASSA grant payments are no longer distributed through Post Office branches (SAPO/Post Bank).
  • The Bank Mobile Money Transfer (cash send option) is no longer available; this method was discontinued due to potential security concerns.

SASSA Social Grants payment dates for 2022 until March 2023

social grants will now be paid on the second of every month. SASSA has made the necessary changes to its payment calendar.

SASSA Card

You can use your SASSA card to pay for groceries or withdraw cash from Pick n Pay locations.

It was also revealed that expired Sassa Postbank Gold Cards would be valid until December 2023.

How It Works-SASSA Card

  1. To collect their cash, all SASSA grant recipients can use their MasterCard SASSA card at till points and ATMs.
  2. The card can also be used to pay for groceries at any check-out location.

Why SASSA Status Check Pending?

Unfortunately, when many South Africans check their sassa status online application, it only says “pending,” and they are unable to receive the R350. The SASSA recently issued the following message on:

SASSA will clear outstanding payments from the previous cycle as soon as the bank details are confirmed.

The payments will not be made all at once, but rather month by month.

A payment may be made more than once in a month, but no one will receive double payments in amount.

SASSA will make these multiple payments in one month until the backlog is cleared, at which point monthly payments will resume.

Why is my Sassa R350 approved but I’m not getting paid?

There could be several reasons why your SASSA status check was approved but you have yet to be paid. Individuals who have been approved but have not yet been paid are likely to have outstanding bank accounts, bank accounts that have failed bank account verification, or bank accounts that are awaiting verification from either the National Treasury or those who chose Cash send payments. The application process may have gone smoothly, and you may have met the criteria for financial assistance. However, there have been ongoing issues with some banks and bank accounts that are still being worked on and improved.

What caused my SASSA Status Check to fail?

The sassa status check may be declined or failed for a variety of reasons, including:

  • Although an additional source of income may have been identified, taking you above the minimum threshold, they have been unable to verify your unemployment grant status.
  • You may already be registered for the NSFAS.
  • Already registered with UIF
  • It’s possible that the identity verification check failed

SASSA Status Check Outcomes and Explanations

Sassa Status CheckEXPLANATION
What Application Complete means?It means everything is okay, just wait and keep checking status of your SASSA application for your payment dates.
What Bank details pending means?It means that you have to add your banking details to SASSA application.
What Period Pending means?It means application was successfully received but verification of the application for the current period is pending.
What Period Approved means?This means the application was approved for the period. Now you should wait for the payment date for this month.
What period declined means?It means your application isn’t completely declined, it is just withheld until next payment period.
What cancelled application means?It means your application has been declined, what you got to do now is to reapply.
What “SASSA status check reapplication pending” means?If your income status recently fell below the poverty line then you were allowed to request reconsideration of your social relief grant srd r350 application until your financial status improves. If you filed an appeal but you forgot to add SRD grant payment method then you will still get SRD reconsideration pending status or reapplication pending SASSA R350 status.
Can’t check SRD status?If you can’t check distress R350 grant status then you are missing the reference number of your application.
When SASSA says approved?If your application passes all the requirements of SASSA then your status says approved and then you can check your payment date to go and collect the payment.

Reconsideration of Sassa Status Check

During the reconsideration process, they double-check personal information and income status to ensure that they are vulnerable individuals. This could be due to changes that have occurred since the application. There have recently been announcements of delays in processing reconsideration requests due to longer communication times with banks and financial institutions. Remember that in order to qualify for the covid-19 grant, African citizens must not be receiving any other government covid-19 response assistance.

How Do I Reconsider My R350 Grant?

If your Covid-19 SRD R350 grant online application status check shows ‘Reapplication Pending,’ you should dispute your R350 grant status as follows:

  1. Visit the SRD website at https://srd.sassa.gov.za.
  2. Tap the ‘Application for Reconsideration’ button.
  3. Then click ‘Click here to request reconsideration.’
  4. Please provide your South African ID number as well as your cellphone number.
  5. Submit the form by clicking the Submit button.
  6. Complete the remaining steps for payment reconsideration.

How To Use The SRD SASSA srd.sassa.gov.za Login

Grant applicants can also check the status of their SRD grant applications using the online service available on the SASSA website at srd.sassa.gov.za.

  • Navigate to the SRD grant application status on the official SASSA website by clicking on the following link: https://srd.sassa.gov.za/sc19/status
  • Enter the applicant’s South African identity document number.
  • Enter the phone number with which you submitted the application.
  • Your assa status check will then be displayed in the drop-down menu on the following page.
SASSA Contact Information

SASSA can be reached at the following numbers:

Toll-Free Number for SASSA: 0800 60 10 11.
SASSA Headquarters: 012 400 2322
Grantsenquiries@sassa.gov.za is the SASSA Head Office’s email address.

There are also SASSA offices located throughout South Africa. The full list is available on the SASSA website.

Gauteng
Mr. Matlou Themba
E-Mail: ThembaMat@sassa.gov.za
Tel: 011 241 8320 Fax: 011 241 8305 E-Mail: GrantsEnquiriesGP@sassa.go

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SRD sassa grant

FNB: Graduate Internships 2024

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FNB: Graduate Internships 2024

First National Bank (FNB) invites South African unemployed graduates Internship Programme 2023 / 2024.

Internship Application Closing Date: 22 January 2024

Internship Location: Johannesburg, Gauteng

Role Purpose: To participate in on the job training by attending meetings, shadowing staff members and researching information to be used in reports to gain practical experience in the business

Responsibilities

  • Deliver exceptional service that exceeds customers’ expectations through proactive, innovative and appropriate solutions
  • Provision of an efficient execution of role responsibilities through careful and timeous planning, reporting and updating of all related information in the relevant role of learning
  • Participate in the innovation process in the business and contribute toward new innovations against objectives
  • Participation in knowledge sharing and projects to maximise skills required for the role and relevant career exploration by executing all activities required to be efficient and successful
  • Manage graduate development plan by completion of training assignments
  • Manage graduate development plan to increase own competencies and skills by attendance of training
  • Manage own development to increase own competencies
  • Live the values of the business through demonstrating and displaying of the values required in the business

Required Qualifications:

Recent Graduates / Final year University degrees in:

  • Commerce (Accounting, Business Management, Finance, Economics etc),
  • Actuarial Science,
  • Maths,
  • Statistics,
  • Engineering,
  • Marketing,
  • HR,
  • Industrial Psychology,
  • Information Systems,
  • Computer Science,
  • This is not an exhaustive list of degrees

How to Apply

Apply Online for the FNB: Graduate Internship Programme 2024

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SRD sassa grant

Eskom: Graduate In Training Internships 2024

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Eskom: Graduate In Training Internships 2024

Eskom invites South African unemployed graduates to apply for Graduate-In-Training Internship Programme 2024.

Internship Location: Western Cape, South Africa

Internship Closing Date: 12 January 2024

Business Integration & Performance Management (BIPM)

Minimum Requirements
•B Degree in Industrial Engineering/Data Science/ Commerce/Information Technology/Information Management/ Engineering

Skills and Competencies
Good communication skills
• Have the ability to understand technical concept
• Be safety conscious
• Have conscientious and self-discipline approach
• Be responsible and committed
• Have emotional resilience
• Have the ability to perform physical work
• Positive attitude
• Be able to work as part of a team

Property Management

Minimum Requirements
•B Degree in Property Management/Real Estate/Electrical/Mechanical

Skills and Competencies
Good communication skills
• Have the ability to understand technical concept
• Be safety conscious
• Have conscientious and self-discipline approach
• Be responsible and committed
• Have emotional resilience
• Have the ability to perform physical work
• Positive attitude
• Be able to work as part of a team

How to apply

Clcik here to apply for Business Integration & Performance Management (BIPM) Internships

Click here to apply for Property Management Internships

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