The Tax Man

SARS restricts cheque payments

The Tax Man is always watching
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As part of its modernisation journey, SARS Customs will impose a restriction on the value of cheque payments.

This will be implemented in a phased approach, starting with the new account management system roll-out at Ramatlabama planned for October 20.

Cheque payments made after the implementation of the new account management system at a customs branch office may not exceed R100 000. 

“This applies irrespective of the number of declarations being paid and should multiple cheque payments be received, the total amount may not exceed R100 000,” according to a statement released by Beyers Theron; executive, customs modernisation. 

“Stakeholders will be informed of the date on which this restriction will be strictly applied at each specific customs office,” he said.

“Customs offices where the new account management system has not yet been implemented will continue to accept cheque payments up to the value of R500 000.” 

FTW 

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