South Africa: Changes to income tax returns | KPMG | GLOBAL

South Africa: Changes to income tax returns for companies (ITR14)

South Africa: Changes to income tax returns

The South African Revenue Service (SARS) in February 2018 announced enhancements to the income tax return for companies (ITR14), with an effective date of 26 February 2018.

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Some enhancements are reflected on the ITR14 itself and others affect the requirement to submit additional supporting information with the return. Among the changes are those concerning:

  • A new schedule for companies with controlled foreign companies (CFCs)
  • A requirement for groups of companies with consolidated financial statements to submit the group structure with their returns
  • New questions concerning country-by-country reporting
  • Requirements for supporting documents and additional information

 

Read a February 2018 report [PDF 64 KB] prepared by the KPMG member firm in South Africa

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