South African Revenue Service will no longer accept cheque payments made using the abbreviation ‘SARS’. All cheques must from 1 April 2010 be made out to South African Revenue Service.
This decision has been taken as part of the ongoing efforts by SARS and the banking institutions to limit the opportunities for fraudulent activities as well as decrease possible losses due to similar account names.
Taxpayers can also take advantage of other methods of payment to SARS such as the use of online banking, electronic funds transfers (EFTs) or payments through the secure efiling channel.
SARS would like to urge all taxpayers to view this decision as a further step towards protecting payments to SARS and to prevent fiscal theft through cheque fraud. If you wish to make use of alternative payment methods, see SARS payment rules.
Issued by: South African Revenue Service
17 March 2010
Source: South African Revenue Service (http://www.sars.gov.za/)
