Category: Income Tax | SARS Tax2024 Taxseason Verification Completion
What is a Completion Letter?
A Completion Letter from the South African Revenue Service (SARS) indicates that your submitted documents have been reviewed and accepted. This letter confirms that no adjustments will be made to your Original Assessment.
What Happens Next?
• Refunds: If you are due a refund, it will be processed within 72 hours, provided there are no outstanding tax debts, no unfiled tax returns from previous years, and your banking details have been confirmed valid with SARS.
• Tax Owed: If you owe tax based on your Original Assessment, the amount remains unchanged.
Remember that your tax assessment may be opened at any time by SARS should they suspect fraud, and that the normal prescription period would not apply – under normal circumstances prescription for Income Tax is three years from the date of the issue of your tax assessment.
Example of a Completion Letter
Dear Taxpayer,
Verification of Assessment
We refer to the verification of your assessment for the 2024 tax period. Please note that no adjustment has been made to this assessment. However, in terms of the Tax Administration Act, the South African Revenue Service reserves the right to conduct further reviews in the future if required.
Should you have any queries, please call the SARS Contact Centre on 0800 00 SARS (7277). Remember to have your ID number or income tax number at hand when you call to enable us to assist you promptly.
For professional assistance with your tax matters, consider reaching out to Tax A Sured (Pty) Ltd. Our team of experienced tax consultants are dedicated to providing personalised and comprehensive tax solutions tailored to your needs. Whether you need help with tax returns, VAT, or any other tax-related queries, Tax A Sured (Pty) Ltd is here to ensure your tax affairs are in order.
