National Treasury has provided their responses to the public comments on the annual draft tax law amendment bill! Although still a work in progress, there are some pertinent proposed changes. From a global business expansion perspective, one such proposal is the inclusion of the use of “Advanced Pricing Agreements” (“APAs”) in South African domestic law, […]
On 24 April 2023, the South African Revenue Service (SARS) released new enhancements to the Tax Compliance Status (TCS) process, with immediate effect. The changes made by SARS mainly concerned the approvals required by individuals when transferring funds out of South Africa. Now, SARS has made further changes – but what are these changes, and […]
Many South African taxpayer’s received a general warning on 24 October 2023, that SARS will not only penalise their non-compliance status, but “will initiate the criminal process” against a taxpayer.