By Edwin Tshivhidzo, tel: (012) 314-2454

The South African Revenue Service (SARS) has launched a new transfer duty system to enable conveyancers to access and submit declaration forms via the Internet.

The initiative is aimed at improving client services, modernising SARS processes and ensuring easy compliance with tax laws.

From now on, conveyancers will be able to submit transfer duty declaration forms and effect transfer duty payments electronically once they have registered as e-filers on the SARS website.

The transfer duty declarations REV 683, REV 684 and VAT 249 have been revised and redesigned and the new declaration forms (TD1, 2, 3, 4, 5, 6 and 7) are already available on the SARS website.

These forms must be used for all transactions concluded on or after 1 May 2005. 

The conveyancers will need to scan copies of the deeds of sale and submit them with the declarations signed electronically on behalf of the buyer and seller.

The scanned copies would then be submitted electronically to a SARS office closest to where the property is situated.

This would then enable SARS to authorise the issuing of transfer duty receipts or exemption certificates and provide for the extraction of such receipts or exemption certificates. 

For further information, people are advised to visit the SARS website at www.sars.gov.za or call (012) 422 5046. - BuaNews