n Personal Finance Newsletter - Stolen cheques, refunds, and SARS - who carries the burden?
|Article Title||Stolen cheques, refunds, and SARS - who carries the burden?|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Personal Finance Newsletter|
|Publication Date||Jan 2014|
No payments in excess of R100 000 with regards to assessed tax, value-added tax or employees tax may be made to the South African Revenue Service (SARS) by cheque anymore. In fact, the revenue authority prefers that taxpayers pay any taxes due by way of electronic funds transfer (EFT). While SARS still issues cheques to refund taxpayers in exceptional cases, the authority itself also favours electronic payments for refunds.
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