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    Annual Tax Returns

    Annual Tax Returns (ITR14 & ITR12) for South African Taxpayers

    Every South African company, close corporation, trust and provisional individual taxpayer has to file an annual return with SARS — even in a loss year, even for a dormant shelf company, even where PAYE was fully withheld. We prepare and submit ITR14, ITR12 and IT12EI returns from properly reconciled numbers, defend assessments where SARS gets it wrong, and keep clients out of the escalating administrative penalty regime.

    ITR14 — company income tax return

    Every Pty (Ltd) and close corporation submits an ITR14 within twelve months of financial year-end. The return declares taxable income, calculates company tax (currently 27%), applies the small business corporation regime where the company qualifies under section 12E, treats capital gains under the Eighth Schedule, and reconciles to the signed annual financial statements. We complete the ITR14 from the AFS, tag every deduction to the source document, and submit through eFiling with a full working paper file behind it.

    ITR12 — individual return

    Sole proprietors, directors with drawings or loan accounts, landlords, freelancers, crypto traders and taxpayers with foreign income all need an ITR12. We handle local business income, rental (with the current SARS limitation on losses ring-fenced under section 20A), interest and dividends, capital gains, foreign income and section 6quat rebates, retirement fund and medical scheme credits, and section 11(k) contribution deductions.

    Trusts and public benefit organisations

    Discretionary and vested trusts file an IT12TR, applying the section 25B conduit principle and the current attribution rules. PBOs approved under section 30 file an IT12EI to retain their tax-exempt status. Both are areas where SARS scrutiny has tightened materially — we prepare these returns with the supporting resolutions and beneficiary distributions on file.

    Assessments, objections, ADR and voluntary disclosure

    Once submitted, SARS issues an ITA34. We check every assessment against the return, dispute unjustified adjustments through the NOO / NOA process within the 80 business day window, and where necessary escalate to Alternative Dispute Resolution or the Tax Board. Where historical non-disclosure is the problem we structure Voluntary Disclosure Programme (VDP) applications to limit penalties and criminal exposure.

    Catching up years of missed returns

    SARS's administrative penalty for non-submission of a personal income tax return runs from R250 to R16,000 per month per outstanding return. For companies the penalty structure was extended to ITR14 in 2024. Where clients arrive several years behind, we file everything outstanding, apply for penalty remission under section 218, and get the compliance status green again.

    Learn more

    Read the VAT in South Africa guide

    Understand how VAT interacts with company tax and provisional tax filings.

    What's Included

    Annual Tax Returns at a glance

    ITR14 company returns from AFS
    ITR12 individual and sole-proprietor returns
    IT12TR trust returns and section 25B
    IT12EI for section 30 approved PBOs
    Section 12E small business corporation calcs
    Eighth Schedule capital gains treatment
    NOO, NOA and ADR dispute handling
    Voluntary Disclosure Programme applications
    FAQ

    Frequently asked questions

    Common questions about annual tax returns in South Africa.

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