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Third Party Data Submission Platform – Layman Version

This focuses on the Third Party Data Submission process for SARS (South African Revenue Service) and are technical guidelines for institutions submitting data to SARS.

 

The provided sources detail:

    • What Third Party Data Submission is: It’s a requirement by law for third parties (like banks, medical schemes, and fund administrators) to send specific financial and other information to SARS via a return.
    • Who must submit data: This includes, but is not limited to, attorneys, banks, JSE-listed companies, co-operatives, estate agents, financial institutions, medical schemes, and organs of state.
    • What data types are submitted: Examples include Withholding Tax on Interest, Automatic Exchange of Information (FATCA & CRS), Dividends Tax, IT3 data submissions (IT3(b), IT3(c), IT3(e), IT3(s)), Medical scheme contributions, and Insurance payments.
    • Why this data is submitted: SARS uses this data for tax administration purposes, such as confirming whether a person has submitted correct information in their tax returns, ensuring compliance with tax acts, and determining a person’s tax liability.
    • How and When to submit data: It outlines the submission periods, deadlines (e.g., 1 April to 31 May 2025 for annual submissions, 30 September 2025 for IT3(t)), and the steps involved (preparing files, enrolling on eFiling, testing on the SARS Test Platform, submitting to the Production Platform, and declaring summaries).
    • Important considerations for submissions: Such as the importance of timely and accurate submissions to minimize revisions, the use of the SARS Test Platform, paying attention to response codes, and contacting support for assistance.
    • Therefore, the information contained in these sources is specific to the administrative procedures for third parties reporting data to SARS, rather than the tax or legal positions of individuals living or working in South Africa or abroad.
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