How long does SARS take to pay out? That’s a question for which many have been looking for an answer. The South African Revenue Service (SARS) is the body that’s responsible for collecting taxes on behalf of the government. You are here because you are expecting a refund from SARS. In that case, you will be wondering how long you will need to wait for money to be deposited into your account.
How long does SARS take to pay out refunds?
According to SARS, it can take up to 72 hours for refunds to be payed out. That’s assuming that all your details are correct. However, if there are issues that need to be resolved, such as incorrect banking details, the money will take longer to reflect in your account. In fact, in the event that there have been changes to your bank account, you will need to wait up to 21 days before money that your are owed is paid out to you.
Make sure that everything is in order
That’s the answer to the question how long does SARS take to pay out. If everything is in order, you will be paid within 3 days. If you have changed your bank account details, the waiting period can run up to 3 weeks.
We noted above that everything needs to be in order for you to get your money quickly from SARS. But what are some of these things that you need to focus on? The following are some of them;
- The refund amount needs to be at least R100
- All your details need to be correct
- There should be no debt on your account
- No audit or inspection has been scheduled.
How to see the payment date on eFiling
If you log into eFiling, you will be able to easily see the date when payment of your money is scheduled to be deposited into your bank account.
Check for the date under Electronic refund. That’s the payment date when the money will be sent to you.
In this article, we answered the question how long does it take for SARS to pay out refunds. We noted that assuming that everything is in order, you will need to wait no more than 3 days for your refund. You can log into eFiling, where you will be able to see the date when you are scheduled to receive your money.