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What are the tax submission deadlines?

Each financial and tax year has deadlines and you would be wise to keep to these. Timeous submission means you will avoid late-submission penalties. This helps to keep the cashflow healthy which is imperative for the success of any SME.

That said, here are the deadlines to remember:

  1. VAT

Manual submissions of the VAT201 and payment must be complete by the 25th of the month. Electronic submissions and payment of the VAT201 must be made by the last business day of the month.

  1. PAYE

Submit the monthly EMP201 by the seventh of the following month or the Friday before if the seventh falls on a weekend or public holiday.

File the interim EMP501 reconciliations for the period of 1 March to 31 August between 1 September and 31 October.

File the annual EMP501 reconciliations for the period 1 March to 28 February between 1 April and 31 May.

  1. Income Tax

You must file a compulsory provisional tax return six months from the start of the financial year and another at the end of the financial year.

You may make a voluntary submission and top-up payment six months after year-end.

You must file your annual income tax return within 12 months of the end of your financial year.

  1. Provisional taxpayers (Sole Proprietors)

You must file the first provisional tax return and make one tax payment by the end of August.

A second provisional payment is due by the end of February (at the end of the tax season).

You might make an optional third payment at the end of September if the amount paid in previous payments was insufficient.

The tax filing season for provisional taxpayers usually begins in early June, with a deadline of 31 January.