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2016 Income Tax Filing season

2016 Income Tax Filing season

2016 Income Tax Filing season

Personal income tax (PIT) is the largest single source of the total tax revenue collection: SARS collected R389 billion in PIT during the past financial year. With Treasury targeting R1.43 trillion in gross tax revenue by 2018/19 (from R1.06 trillion today), it is clear that SARS will have to continue to drive compliance rigorously and relentlessly for individuals.

The 2016 personal income tax filing season is expected to open at the beginning of July.

The first period provisional tax return relating to the 2017 tax year is due at the end of August 2016.