Build an ITR14 Company Income Tax Return (SARS eFiling)
Skill: Convert company financials into the ITR14 corporate income tax return
Region: South Africa Category: Tax — Corporate income tax (SARS) Does: Takes a company's financial statements and tax data and produces the ITR14 Company Income Tax Return submitted via SARS eFiling — the company particulars, the tax computation (accounting profit reconciled to taxable income), and the supporting financial-data fields. System: SARS eFiling — ITR14 (dynamic return; the "wizard" determines required sections)
The ITR14 is filed within 12 months of the financial year-end. It is a dynamic return: answers to the wizard (company type, turnover, IFRS basis) determine which sections appear (e.g. small business corporations, micro, dormant, or full). Taxable income is the accounting profit adjusted for tax. Confirm the current ITR14 form and corporate rate before generating.
When this applies
- Companies and close corporations resident or carrying on business in South Africa.
- Annual return due within 12 months of year-end; provisional tax (IRP6) paid during the year.
Input data required
| Group | Fields |
|---|---|
| Company particulars | income tax reference number, registration number, year of assessment, company type, financial year-end |
| Financial statements | balance sheet and income statement totals (assets, liabilities, equity, gross profit, expenses) |
| Tax computation | net profit/loss per accounts; add-backs (non-deductible) and allowances (s11(e)/s12C/s13 capital allowances, s24C) |
| Assessed loss | balance brought forward, current-year set-off (subject to the 80% limitation) |
| Tax & credits | taxable income, normal tax, foreign tax credits, provisional tax paid |
Structure (ITR14)
ITR14
├── CompanyParticulars (TaxRef, RegNo, YearOfAssessment, CompanyType, FYE)
├── FinancialData (Balance sheet + Income statement totals)
├── TaxComputation
│ ├── NetProfitLossPerAccounts
│ ├── Add-backs (non-deductible expenses, accounting depreciation)
│ ├── Allowances (wear-and-tear s11(e), s12C, s13quin, etc.)
│ └── AssessedLoss (b/f, set-off subject to 80% rule, c/f)
└── TaxLiability (TaxableIncome, NormalTax, Credits, ProvisionalTaxPaid, Net)
Calculation rules
- Taxable income = net profit per accounts + non-deductible add-backs − tax allowances (capital allowances replace accounting depreciation).
- Assessed loss set-off is limited to the greater of R1m or 80% of taxable income (companies); the balance carries forward.
- Normal tax = taxable income × the company rate (27% — confirm the rate for the year of assessment); small business corporations use the graduated SBC table.
- Reconcile to provisional tax (IRP6) already paid to determine the balance payable/refundable.
Worked example (summary, outline)
Tax ref: 9123456789 Year of assessment: 2026 FYE: 2026-02-28
Net profit per accounts: 2,000,000
Add: accounting depreciation: +300,000
Less: s12C/s11(e) allowances: -450,000
Taxable income (before loss): 1,850,000
Assessed loss b/f set-off (80% cap): -1,480,000
Taxable income: 370,000
Normal tax @ 27%: 99,900
Less provisional tax paid: -90,000
Balance payable: 9,900
Validation checklist
- Company particulars, year of assessment and company type drive the correct ITR14 sections
- Financial-data totals tie to the annual financial statements
- Add-backs and capital allowances applied; accounting depreciation added back
- Assessed-loss set-off respects the 80% limitation; balance carried forward
- Normal tax at the correct rate (or SBC table); provisional tax reconciled
- Submitted via SARS eFiling within 12 months of year-end
Last updated: 2026-06-04 — confirm the active ITR14 form, the corporate tax rate, assessed-loss and capital-allowance rules against the current South African Revenue Service specifications before use.