NEWS | PROVISIONAL TAX: PENALTIES AND INTEREST RISKS
Provisional taxpayers must comply with all requirements for filing returns and making payments in order to avoid risk of penalties and interest.
Author Archive for: Tax Consulting South Africa
Entries by Tax Consulting South Africa
NEWS | CONSTITUTIONAL COURT GIVES HEFTY SARS BLOW TO FRANCHISE INDUSTRY
Talk about bad timing. The Constitutional Court on 21 July 2020, after some 250 days of deliberation, decided that the way in which many franchise operators have been claiming their tax expenses does not rank for tax relief.
NEWS | IMPORTANT COURT WIN FOR SMALL BUSINESS OWNER AGAINST SARS
The Pretoria High Court granted on 14 July 2020, a small business owner, on an urgent basis relief against the South African Revenue Service (SARS) who depleted the taxpayer’s bank account without following due process. The court ordered SARS to set aside the third appointment of Absa who collected R1.3m on behalf of SARS from […]
NEWS | WHEN SARS UNLAWFULLY HELP THEMSELVES TO YOUR BANK BALANCE
Everybody knows SARS is under collection pressure and they have grown rather fond of appointing 3rd parties, such as banks, to recover outstanding tax debts directly, which leaves taxpayers stunned.
NEWS | 2020 TAX SEASONS CHANGES
Due to the COVID-19 pandemic and the restrictions implemented, SARS has made changes to the 2020 season process.
NEWS | CALM IN THE STORM: DTA’S PROVIDE QUIET RESPITE FOR EXPATS
The lockdown in South Africa followed shortly after the introduction of the expat tax limitation in section 10(1)(o)(ii) of the Income Tax Act.
NEWS | TAX OMBUD REPORT RAISES QUESTIONS ON EFFECTIVE USE OF SARS RESOURCES
On 23 June 2020, Judge Bernard Ngoepe released the Tax Ombud’s long-awaited second report on the investigation on systemic issues at SARS. The report, which is probably the Ombud’s best to date, will be immensely insightful to the SARS Commissioner, but equally concerning. Informed by a massive amount of data, the report reveals just how […]
NEWS | ECONOMIC CONTRACTION WILL SEE UNEMPLOYMENT SKY-ROCKET
Finance Minister Tito Mboweni’s announcement of a tax revenue shortfall of R300bn in his Supplementary Budget Speech may be too optimistic.
NEWS | OPPORTUNE TIME FOR SOUTH AFRICANS TO EMIGRATE TO MAURITIUS
The Mauritian government implemented several incentives that make Mauritius an attractive option for foreigners to live, work and invest in. Tarissa Wareley, an Immigration Specialist at Xpatweb, says that besides cutting the minimum investment needed for an occupation permit (OP) as INVESTOR, to half. The government also relaxed other entry requirements that make it easy […]
NEWS | THIS YEAR, SARS MAY ‘AUTO-ASSESS’ YOUR TAX RETURN: HERE’S WHAT YOU NEED TO KNOW
This year, the SA Revenue Service says it will assess “a significant number” of taxpayers automatically. This means that it will complete your return with all the information it received for you – gathered from your employer, bank, medical scheme, retirement annuity administrator and other companies – and send you an assessment. If you accept […]