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Introducing the New Electronic Version of the BAS form
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What changes have been made to the BAS form?
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The Business Activity Statement (BAS)
has been improved, allowing for automatic
calculation of the total tax liability that should be remitted to the Revenue
Commission. The electronic BAS form can now electronically calculate the liable
tax due against claimed payments. Where there is a single tax rate (like in the
case of GST on residential rent which is 15%) the BAS will electronically
calculate the amount of tax that should be remitted to SRC. In this case, the
rate will be shown next to the corresponding box.
Note however that for the section on excise tax, taxpayers will need to manually calculate and
key in their tax liabilities. The same applies for fixed tax payments such as income tax for a
domestic worker and a daycare worker employed by an individual and for surcharges and penalties.
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How to complete the improved BAS form?
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When completing the form, only the applicable boxes relative to you should be filled in.
You need to key in the relevant figures in the boxes that are clickable / activated.
Boxes that are non-clickable / not activated will be automatically updated where
applicable.
When completing the BAS form, instruction boxes will appear on, above, below or to the
side of the applicable boxes. Simply drag the instruction boxes outside of the page
so that you can clearly read what you are required to fill in. The instruction boxes
will guide you when completing the form.
Steps for electronically completing the BAS form:
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You have to manually key in your Client Trading Name or Business Name and your
TIN or SBN in the applicable boxes.
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Click the relevant month and tax year, which is applicable, on the form.
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For the Income and Non-Monetary Benefits Tax (INMBT) section, fill in all the
clickable/activated boxes relevant to their specific tax liabilities. The total INMBT
to be remitted will be automatically calculated and updated in the Summary section of
the BAS.
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When completing the Goods and Services Tax (GST) section, key in the sales amount
inclusive of the GST charged. For example, if you charged SR100 for a service you should
key in SR112 (Sr100 + (12) 12% GST) in the applicable box. The total GST tax to be
remitted will be automatically calculated and will be updated in the Summary section
of the BAS.
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When completing the Excise Tax section, key in the sales quantity of locally manufactured
tobacco and alcohol. For tobacco the BAS will automatically calculate the tax liable in
view that there is a single tax rate (SR 500.00 per 200 cigarettes) on tobacco. However,
since the excise tax on alcohol production varies according to the alcohol strength you
should manually key in the liable tax as per the rate specified within the Excise Tax Act,
2009. The total Excise Tax to be remitted will then be automatically calculated and
updated in the Summary section of the BAS form.
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When completing the Pay As You Go (PAYG) section, fill in the applicable box. The BAS form
will calculate the liable tax where there is a single tax rate. The interest paid and the
liable withholding tax on interest should be keyed in since withholding tax rate on
interest is multiple. Thereafter the total PAYG to be remitted will be automatically
calculated and updated in the Summary section.
The Summary section of the BAS form contains the total liable tax that a taxpayer
should remit to SRC for each applicable month. The Summary section is automatically
updated and the total amount that a taxpayer should remit will appear in the Total
amount remitted box.
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Can I submit the new BAS form by e-mail?
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If you are making payments by bank transfers simply download the BAS,
complete it and e-mail it back to SRC on the following email address:
bas@src.gov.sc.
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If you are making payments by cash or cheques, you will have to print the BAS form
submission after you have downloaded and completed it. Please be reminded that the BAS
form needs to be submitted along with your payment to the SRC no later than the 21st day of
each month following the month in which the transaction occurred.
The improved BAS form can be downloaded
here or you can
call for the BAS form to be sent to you by e-mail.
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