The South African Revenue Service (SARS) issued a public notice on 12 November 2020 providing an extension of the deadline to file Country-by-Country (CbC) reports for specified persons. This includes that for persons normally required to file by 31 December 2020 or 31 January 2021, the deadline is extended to 28 February 2021, and for persons normally required to file by 28 February 2021, the deadline is extended to 31 March 2021.
The extensions are provided in relation to an update in the CbC reporting system announced by SARS, which includes a change from XML Schema Version 1.0.1 to XML Schema version 2.0 in adherence with OECD guidelines from 1 February 2021. To enable SARS to implement the required system changes and to provide for testing of the system, the CbC eFiling system will be switched-off from 4 December 2020 to 31 January 2021, however, eFiling will still allow the filing of master files and local files during this period.
We’re here to answer any questions you have about the Orbitax products and services.
We’re committed to providing high value, low cost tax research and management solutions.
Our Twitter account is where you can find latest information, news updates, offers and lots more.