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It is already the end of August 2023, more than half the year has passed and what a year it has been! It seems that we are confronted with more factors that influence our financial future as a nation, the corporate world and as individuals than ever before! Some of the challenges that impact us in our daily lives include but not limited to, the war in Ukraine continuing unabated, South Africa’s relationship with Russia and the possible influence this will have in financial support from Western Countries and then there is the ongoing deterioration of State-Owned Enterprises. The example we are the most familiar with is Eskom, just managing to stay afloat at enormous cost to the fiscus while consumers have experienced more load shedding hours year to date, than ever before contributing significantly to production costs.

Economic uncertainty is not just a South African phenomenon, but a global issue and it is important to understand it in this way. Wherever you go in the world, there will be challenges, there is no perfect place, so rather be prepared and avoid last minute pressure, that often results in bad decisions and mistakes.

As pressure mounts on the fiscus, so SARS will continue to show its mettle in revenue collection.

Mid-year tax preparation may seem like an insurmountable task, but it does not need to be so. Here are some planning reminders that will help to guide you through this process and ensure that your records are up to date when it comes to crunch time.

  • PAYE:

7th of each month.

  • VAT:

Due no later than the end of the month, but easier to complete by the 25th.

  • Companies tax (CIT):

One year after your company’s year ends, for example, February year-end 2022 will submit February 2023.

  • Provisional tax:

1st provisional tax: 6 months after year-end;

2nd provisional tax: 12 months after year-end;

3rd provisional top-up payment: 18 months after year-end.

  • EMP501:

First interim submission: October.

Full annual submission: May.

  • Dividend tax:

The tax withheld to SARS on or before the last day of the month following the month in which the dividend was paid.

  • Compensation Fund ROEs:

The deadline for submitting the ROE is officially 31 March each year, but generally extended to 31 May.


In summary, to ensure that things run smoothly, Prepare Your Payroll. Validation and preparation are key to ensure the information provided on the employee certificates is correct.

Reconcile your financial values! Ensure your PAYE, SDL, UIF and ETI balances on your payroll and declarations to SARS.

Submit your Submission to SARS before the deadline of 31 October to avoid the rush and queues. SARS do experience technical issues!

Don’t let this be a stressful time, book a consultation with one of our support experts and let them guide you and your organisation through the complexities of tax laws with ease. Call us on +27 10 446 1800 to make a booking or send an e-mail to