NEWS | POSITIVE BUDGET SPEECH, BUT POOR REVENUES PUT HIGH EARNERS AT RISK
On 24 February, Finance Minister Tito Mboweni delivered South Africa’s 2021 National Budget speech.
NEWS | BUDGET TAKES PLIGHT OF ORDINARY TAXPAYERS INTO ACCOUNT, BUT NO COMPROMISE ON TAX COLLECTION
In this year’s budget speech, Minister of Finance Tito Mboweni steered a course between providing some relief to beleaguered taxpayers after a challenging year while still trying to stick to the government’s existing fiscal plans, says Thomas Lobban, Legal Manager for Cross-Border Taxation at Tax Consulting South Africa.
NEWS | BREAKING INTO AFRICA: HOW MULTI-NATIONALS MAXIMISE PARTNER NETWORKS TO EXPAND THEIR FOOTPRINT
Many African countries have recorded excellent gross domestic product (GDP) rates in excess of six percent in recent years and with their vastly youthful populations are attracting myriad multi-national firms that foresee these economies as presenting the next massive global growth opportunity.
NEWS | CRYPTOCURRENCY A PRIMARY CONCERN FOR TAX AUTHORITIES
There are many South Africans who have made investments into cryptocurrency, and we see all types of traders and investors on a daily basis.
NEWS | THE NEW FINANCIAL EMIGRATION ANNOUNCED BY SARB
Financial emigration is the process used by many South Africans abroad to formalise their non-resident status for both tax and exchange control purposes, and which is set to be amended, as mentioned a year ago in Budget 2020, and come into effect on 1 March 2021.
NEWS | TOP TAX TAKE AWAYS FROM 2021 BUDGET SPEECH
Taxpayers received a welcome message of support from Finance Minister, Tito Mboweni, in delivering his 2021 Budget Speech. In adopting a focus on economic recovery, following an unprecedented year of job losses, the Minister has for a second consecutive year afforded some relief to taxpayers with an above-inflation increase in the personal income tax brackets […]
NEWS | KEEPING YOUR TAX AFFAIRS CLEAN
In our recent newsletter, Tax compliance or jail, we warned that your clients could face penalties or prison sentences for negligent non-compliance with South Africa’s tax legislation.
NEWS | CHANGE COMING IN MARCH COULD HAVE A MAJOR IMPACT ON SOUTH AFRICA’S TAX BASE: ANALYST
The financial emigration law amendment that comes into effect on 1 March could cause a mass exodus of South Africa’s tax base, says Professor Jannie Rossouw, head of Wits Business School.
NEWS | 11 MISTAKES ON YOUR TAXES THAT COME WITH 2 YEARS’ IMPRISONMENT
A new set of tax law amendments, signed by President Cyril Ramaphosa, and promulgated on 20 January 2021 has granted SARS all the legal fire power it needs to impose criminal sanctions on taxpayers who neglect their tax affairs.
NEWS | SARS PURSUES NON-COMPLIANT CRYPTOCURRENCY TRADERS
With South Africa and the world at large facing an economic downturn as a result of various factors, not the least of which being the Covid-19 pandemic, SARS is on a mission to plug the existing gaps in tax revenue collection and compliance.