[FAQ] How do you submit a Third Prov Tax return and what penalties are payable if any?

[FAQ] How do you submit a Third Prov Tax return and what penalties are payable if any?

• 22 August 2023
• Provisional tax (Link with other Taxes)
• The Tax Faculty Tax Specialist

This article is based on tax law for the year ending 28 February 2023.

Question:

How do you submit a Third Prov Tax return and what penalties are payable if any?

Answer: 

The 3^rd payment is voluntary so it cannot be late and cannot attract penalties. The 3rd payment should bring the tax liability up to date and stop any interest from accuriing.

There is not a formal return as it is a payment being made.

• Calculate the tax for the year.
• Deduct any 1st and 2nd provisional payments made.
• Request a provisional account statement on eFiling.
• Check the payment reference number at the bottom of page 1.
• It will be something like this – 9340200185P00MMYYYY.
• Change the MMYYYY to 032021 (meaning 3rd 2021).
• Go onto your bank.
• Navigate to Once-off payment.
• Search for a listed beneficiary SARS-PROVISIONAL TAX.
• Make the payment using the above reference.

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