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.