Tax News Alert – South Africa

SARS have confirmed that under no circumstances will they ever request taxpayers’ bank account details over the phone or accept bank account detail changes via facsimile, post, drop-box or e-mail. Furthermore, a power of attorney, appointing a person as a taxpayers’ duly authorised agent will no longer be accepted for the changing of bank account details.

In future, the only channels for changing bank account details that will be acceptable to, and hence actioned by SARS, will be as follows:

in person at a SARS branch office
with SARS e-Filing
on submission of the following returns:
individual income tax return (ITR12)
company income tax return (IT14)
employee declaration (EMP501 return/reconciliation)
The nature of the supporting documentation that is required to be submitted when the request for a change of information is made at a SARS branch office is comprehensive. Please see details below.

When visiting a SARS branch to change your bank details, please ensure that you have the following supporting documents:

Individual Income Tax:
original identity document/passport or affidavit to justify the absence of an identity document/passport together with a temporary identity document/passport
certified copy of identity document or passport
original bank statement with bank stamp that confirms the account holder’s name, account number, account type and branch code
original proof of residential address for example municipal account/utility bill of an individual not more than three months old reflecting name and residential address or a confirmation of another entity’s residential address, in which instance a Confirmation of Entity Residential Address (CRA01) must be completed. The CRA01 can be obtained on the SARS website (www.sars.gov.za) or at any SARS branch.
Company Income Tax Return (CIT), Value-Added Tax (VAT) and Pay As You Earn (PAYE):

Certificate of Incorporation (CM1) in case of a Public/Private Company, Founding Statement and Certificate of Incorporation (CK1) in case of a Close Corporation and a Partnership Agreement in case of a Partnership
original identity document/passport or affidavit to justify the absence of an identity document/passport together with a temporary identity document/passport of an individual, a partner or an entity representative (not required if non-resident company has no presence in RSA)
certified copy of identity document or passport of an individual, a partner or an entity representative
original bank statement with bank stamp that confirms the account holder’s name, account number, account type and branch code
original proof of residential address for example a municipal account/utility bill of an individual, a partner or an entity representative not more than three months old reflecting the name and residential address or a confirmation of another entity’s residential address, in which instance a Confirmation of Entity Residential Address (CRA01) must be completed The CRA01 can be obtained on the SARS website (www.sars.gov.za) or any SARS branch
original business municipal account/utility bill of a Company/Close Corporation/Partnership not more than three months old reflecting the name and residential address.
Non-resident Company:

indemnity form VAT119i
articles of memorandum of association or similar document issued indicating country of issue
letter of appointment of representative vendor
certified copy of the identity document of authorised signatory of nominated bank account.
Subsidiary or holding company as defined in Section 1 of the Companies Act, 1973:

Indemnity form VAT119i
letter from Public Officer confirming company structure
certified copy of identity document of authorised signatory of nominated bank account.