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 […]
NEWS | RETIREMENT AND RISK BENEFITS: MOST COSTLY MISTAKES
Since the inception of the retirement reform on the 1 March 2016, many employers maintained their payroll configuration appertaining to retirement and risk benefits and the tax treatment thereof or minor modifications thereof.
NEWS | RENTAL AGREEMENTS, LOCKDOWN AND TAX: WHAT ARE TENANTS RIGHTS?
The COVID-19 pandemic has wreaked (and continues to wreck) chaos on economies across the globe. The lockdown has seen many businesses struggling to pay rent, or to even keep afloat. Simultaneously, landlords are faced with pressure to collect rental income; or face their own demise.
NEWS | EMERGENCY BUDGET – SARS COMMISSIONER BREATHES SIGH OF RELIEF
The Minister of Finance delivered an Emergency Budget on 24 June 2020, which can be described in diplomatic terms as gloomy, and uneventful. Most notably, despite speculation by some to the contrary, the Minister did not impose any new taxes, which leaves SARS with no respite as it faces a mighty revenue shortfall of around […]
NEWS | BINDING GENERAL RULING 52: TIMEFRAME FOR THE EXPORT OF GOODS BY VENDORS AND QUALIFYING PURCHASERS AFFECTED BY THE GLOBAL COVID-19 PANDEMIC
Issue This binding general ruling extends the time periods to export movable goods, apply for a refund from the VAT Refund Administrator, and obtain the relevant documentary proof of export, as stipulated in the Export Regulations and IN 30 respectively.
NEWS | THE OPPORTUNITY TO GET SOME RELIEF FROM TAX DEBT DURING COVID-19
Many businesses, and especially small and medium sized entities, have jumped at the opportunity to apply for debt deferral or debt compromises.
NEWS | FIVE MISCONCEPTIONS ABOUT DOUBLE TAX AGREEMENT RELIEF
If a South African expatriate had to describe the year 2020 in one word, “uncertainty” would no doubt rank as one of the most appropriate.
NEWS | EMERGENCY BUDGET: FEW OPTIONS AVAILABLE TO GET SA OUT OF ITS ECONOMIC PIT
Finance Minister Tito Mboweni is facing his own crisis. He will be delivering South Africa’s – probably first – emergency budget in the wake of a massive economic decline.