Tax Bills Propose Additional Exit Tax Under New Section 9HC
When ceasing their South African tax residency, taxpayers are subject to an ‘exit tax’ which forms part of the emigration process.
Is SARS The Monster In The Closet We’ve Been Warned About?
Most taxpayers find themselves on edge when submitting their returns for the current tax filing season. The reason for the underlying tension could have a lot to do with how they perceive SARS.
Tax Court Confirms Auditor’s Advice Is Not “Get-Out-Of-Jail-Free” Card
The Tax Court has again confirmed that there is no safety for taxpayers in relying on their auditor’s views to justify a tax position adopted.
Tax Bills Propose Additional Exit Tax On Emigrating South Africans
National Treasury published the latest Draft Tax Bills on 28 July 2021, which incorporate the tax proposals made in the 2021 Budget.
SARS System Enhancements Enforce Tax Compliance
Over the last couple of years, SARS has systematically increased their manpower to better orchestrate taxation processes, as well as their investigative procedures. They have also allocated R3 billion towards improving their technological and information-gathering infrastructure, which will aid in tightening the noose around individuals with undeclared foreign-earned income or cryptocurrency tax evaders.
New Tax Bills Published: Five Key Proposals
National Treasury published the latest Draft Tax Bills on 28 July 2021, which incorporate the tax proposals made in the 2021 Budget. Highlighted below are 5 key changes proposed by Government that taxpayers need to be aware of.
Should Companies Defer Their PAYE Obligations?
President Ramaphosa announced on 25 July that government will provide continued support to businesses by deferring employees’ taxes (PAYE) for three months.
Compromise of Tax Debts with SARS: A Solution for Financially Impacted SME’s
The Compromise of Tax Debt application (“the Compromise”) is aimed at aiding taxpayers to reduce their tax liability by means of a Compromise Agreement (“the Agreement”), which is entered into with SARS.
SARS Will Audit Your Home Office Deductions: Top Tips If You Want Your Claim To Succeed
In the wake of a surge in claims for home office deductions, SARS held a webinar to ensure taxpayers understand the requirements for their claims to pass muster.
5 Top Tips for Expats to Make Themselves Tax Ready
Adding to the challenges of 2020, the South African Revenue Services (SARS) announced that it did not make its annual budget.