Provisional Tax Made Simple
Provisional tax is a separate form of tax. It is like PAYE in the sense that you pay tax on income earned before you submit your income tax return. You must submit two returns during the tax year, the 1st one by the end of August and the second by the end of February i.e. For the 2025 income tax period your 1st provisional tax submission is due at the end of August 2024. The second is then due at the end of February 2026.
If you are a company or business, your expected income, and expenses for the first 6 months of your financial year as well as your expected results for the full 12 months of the financial year.
If you are an individual who earns an income from various source, all supporting documentation and expected income and expenses for the first 6 months of the financial year as well as the expected income and expenses for the full 12 months of the financial year.
- Any person that SARS says is registered
- All companies/corporations and closed corporations
Please be sure to submit your provisional tax information to SARS before the end of August to avoid penalties and interest and to avoid being flagged as non-compliant.