The ITA34C is SARS's formal notice of assessment for a company, issued after the ITR14 return is processed. It confirms the taxable income SARS has assessed and the resulting tax payable or refundable.
What it means
The assessment may match the company's own ITR14 calculation, or SARS may adjust it, in which case the ITA34C shows the difference and the company can object if it disagrees.
Where it fits in
It's the final step in the company's annual income tax cycle: file the ITR14, receive the ITA34C, then pay any balance due or await a refund. Provisional tax payments made during the year via IRP6 are credited against this final figure.
Key rules
- Issued by SARS after processing the ITR14.
- Confirms assessed taxable income and tax payable or refundable.
- May differ from the company's own calculation if SARS makes adjustments.
- Can be objected to within the statutory time limit if disputed.
