Zuko Komisa

Two-pot system: R21 billion has been paid out to taxpayers
According to the South African Revenue Service (SARS), taxpayers who applied to use their Savings Withdrawals Benefit under the two-pot retirement scheme have received a gross lump sum payment totaling approximately R21.4 billion.
At least 1.14 million of the almost 1.2 million South Africans who asked for the tax directive were granted it.
According to SARS, taxpayers who owe the agency money could have it taken from them if they don’t have a payment arrangement in place.
“SARS reminds taxpayers, who want to apply for a withdrawal to make sure that they verify their tax numbers, have supplied the correct identity numbers, and that they do not have any outstanding debt with SARS.
“After a registered taxpayer has applied, a successful tax directive informs the fund management how much tax to deduct from a withdrawal. Directive applications are accepted by SARS 24/7 and processed within an hour 365 days a year from 8am to 7pm. Unless a directive application is submitted outside of these hours, the response if the taxpayer is compliant be sent to the fund within an hour,” said South African Revenue Service (SARS)
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