SARS apologises to taxpayers for legal threats

Loading player...
GUEST - Adelaide Kekana – Founder and MD of Tax Co and Asssociates

Business owners in South Africa may have received an unwelcome SMS from the South African Revenue Service (SARS) this week warning them of potential legal action should they fail to submit their returns.

The SMSes were sent out as this week the deadline for non-provisional taxpayers was this 23rd October.

With many taxpayers understandably taken aback by the text messages from SARS, the agency has since issued an apology, along with putting a hold on said SMSes.

“The SMS that was sent out earlier this week, in relation to outstanding returns fell short of the high professional standard we seek to uphold. SARS therefore sincerely apologises for the manner in which this matter was handled, the frustration it may have caused honest taxpayers, and any inconvenience caused,” it shared in a statement.
26 Oct 2023 4PM English South Africa Business News · Investing

Other recent episodes

Bitcoin at the Fed’s Crossroads

Bitcoin briefly touched a 12‑week high before pulling back—but with spot ETFs seeing some of their strongest inflows of the cycle, the market is shifting fast. Rob Price, CIO of Sound Money Capital, explains whether Bitcoin is still trading like a high‑beta macro asset or evolving into true sound money.
27 Apr 1PM 17 min

Oil’s Hidden Risks & Gold’s War Paradox

Oil is stuck near $90–95, but portfolio manager John Hasslet says the market is being held up by physical bottlenecks, not real fundamentals. He also unpacks why gold is falling during a major war and how inflation expectations are overpowering safe‑haven demand.
27 Apr 1PM 13 min

BofA Slashes SA Growth Forecast as Inflation Surges

Bank of America has cut South Africa’s 2026 GDP growth forecast to 1.3%, warning that higher oil and fertilizer prices will keep inflation above 4% for most of the year. Economist Tatonga Rusike explains
23 Apr 3PM 11 min

Understanding SA’s First Wealth Score

Franc unveils South Africa’s first-ever Wealth Score, revealing that financial habits—not income—are the strongest predictor of financial health. We unpack why SA’s national score is 45/100 and the behavior gap between knowing and doing with Dr. Thomas Brennan, founder and CEO of Franc.
23 Apr 3PM 13 min