Last Updated on September 21, 2023 by ufiling
When SARS (South African Revenue Service) owes you money, it typically means that you have overpaid your taxes or are eligible for a tax refund. In such a scenario, there are certain procedures you can follow to claim the money owed to you. Here’s an overview of what typically happens:
- Filing a tax return: If you believe that SARS owes you money, you would have initially filed a tax return, either online or through a physical submission. It’s essential to accurately complete your tax return, ensuring all relevant information is included, such as income, deductions, and any tax credits or rebates you may be eligible for.
- SARS assessment: Once your tax return is submitted, SARS will assess the information provided and calculate the amount of tax you owe or the refund you’re entitled to. This assessment process may involve further verification or audits by SARS to ensure the accuracy of the information provided.
- Notice of assessment: After reviewing your tax return, SARS will issue a notice of assessment, which outlines the final amount of tax owed or the refund due to you. If you have overpaid your taxes or are eligible for a refund, this notice will indicate the amount SARS owes you.
- Processing the refund: If you’re entitled to a refund, SARS will initiate the refund process. Generally, SARS aims to process refunds within 21 business days after the notice of assessment is issued. However, the timeframe may vary depending on various factors, such as the complexity of your tax return or any additional verifications required.
- Payment methods: SARS typically pays refunds through electronic funds transfer (EFT) directly into your designated bank account. Therefore, it’s crucial to ensure that your banking details provided to SARS are accurate and up to date. If there are any issues with the payment, SARS may contact you for further information or request additional documentation.
- Follow-up and inquiries: If you haven’t received your refund within a reasonable time frame or have any concerns or inquiries, you can contact SARS directly. They have dedicated helplines and online platforms where you can engage with their customer service representatives and address any issues or queries you may have.
It’s important to note that the specific procedures and timelines may vary, and it’s advisable to consult official SARS resources, such as their website or contact channels, for the most accurate and up-to-date information regarding your situation.