Dispute Frustrations – SARS suffers Motion sickness
A trend of increased delays and frustration with the South African Revenue Service’s (SARS’) dispute resolution process, are becoming apparent among taxpayers and tax practitioners alike.
An incorrect IRP5 could jeopardise foreign income, travel tax claims
Most individual taxpayers tend to only check their tax certificates (IRP5s) when something goes wrong after submitting their annual tax returns. In most instances, taxpayers will not be allowed deductions or exemptions if there are errors. According to tax commentators, the most common errors are due to incorrect use of source codes.
SARS Creates Tax Loopholes
When is a SARS Tax Court case win actually a loss for the fiscus? After the recent SARS court case, dealing with the taxable income of foreigners working in South Africa, it is hard to argue that no-one is working harder than SARS to create tax loopholes for expatriate employees. If anyone in SARS disagrees, […]
Another Reason to Submit your Tax Return
The South African Revenue Service (SARS) has created some nervousness in the South African tax base by embarking on an initiative to criminally prosecute taxpayers who fail to submit their tax returns. Whilst the threat of a criminal record and a fine ought to serve as sufficient incentive to submit one’s return, it is perhaps […]
6 ways you can save with tax deductions
Tax filing season is officially open. And although Acting Commissioner of the South African Revenue Service (SARS) Mark Kingon has noted you don’t have to file a tax return if you earn less than R350 000 per year from a single source of income – and have no allowances – you may still choose to […]