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Category: General | CIT Excise Duty February Important Dates PAYE PIT VAT Vehicle Log 2025
Category: General | CIT Excise Duty February Important Dates PAYE PIT VAT Vehicle Log 2025
TICK-TOCK, TAX O’CLOCK | FEBRUARY’S IMPORTANT DATES
Stay on top of key tax deadlines this month to avoid penalties and maintain compliance. Here’s what you need to know:
7 FEBRUARY 2025 – PAYE SUBMISSIONS & PAYMENTS
- Employers must submit EMP201 returns and make payments for PAYE, UIF, and SDL.
- Any applicable Employment Tax Incentive (ETI) claims should be included.
25 FEBRUARY 2025 – VAT MANUAL SUBMISSIONS & PAYMENTS
- VAT vendors submitting manually must file and pay their VAT 201 returns.
- Maintain accurate tax invoices and ensure compliance with SARS requirements.
27 FEBRUARY 2025 – EXCISE DUTY PAYMENTS
- Businesses dealing in excisable goods (e.g., alcohol, tobacco) must submit excise duty payments.
- Payments depend on product classification and become due when goods are ready for sale.
28 FEBRUARY 2025 – MULTIPLE DEADLINES
- CIT Provisional Tax Payments: Final provisional tax payments for the tax year are due.
- PIT Provisional Tax Payments: Individuals with provisional tax obligations must submit payments.
- VAT Electronic Submissions & Payments: Vendors using eFiling must file and pay by this date.
UPDATE YOUR VEHICLE LOGBOOK
- Record your opening odometer reading on 1 March (the start of the tax year).
- Maintain a logbook for business travel only – private travel is not deductible.
- Record the following details for every business trip:
- Date of travel
- Starting point and destination
- Reason for the trip
- Kilometres travelled
IMPORTANT POINTS FOR YOUR VEHICLE LOGBOOK
- Home-to-work travel is not deductible – SARS considers it private use.
- If you use multiple vehicles, keep a separate logbook for each one.
- Choose between SARS’ cost scale table or actual expense tracking to calculate deductions.
- Keep your logbook and supporting records for at least five years** in case of an audit.
- Without a logbook, you cannot claim business travel expenses against your travel allowance.
ADDITIONAL NOTES
- PAYE Compliance: PAYE is due seven days after month-end, but if the due date falls on a weekend or public holiday, it moves to the previous business day.
- VAT Record-Keeping: Keep tax invoices and records for at least five years for potential audits.
- Corporate Income Tax (CIT): Applies to various entities, including non-profits. Stay updated with SARS communications on deadlines.
