Tax Season 2017/18 Now Open: Important Hints For The Tax Filing Season
The South African Revenue Service (SARS) announced earlier this year that the 2017/18 tax filing season is to kick off on 1 July 2018, however, their e-filing system is already allowing submission of tax returns.
Why SARS Shortened the Filing Season and the Impact Thereof
We are one month away from the opening of ‘tax filing season’, however, this year things will be a bit different. Taxpayers will have until 31 October to submit their tax returns, which is three weeks shorter than usual and will increase efficiency according to acting SARS Commissioner, Mark Kingon.
Transfer Pricing – South African jurisprudence Breaks Ground
In Crookes Brothers Limited v CSARS, the first South African case dealing with transfer pricing adjustments, it was an unpolished contract that handed first blood to the Commissioner. In addition to marking a watershed moment from a South African transfer pricing perspective, this case serves a stern reminder of the importance of diligent contract drafting.
SARS’ new rule: Is travel compensation still worth the chase?
Which is better – company car or travel allowance? It’s a question that regularly plagues both employers and employees. “In light of new SARS requirements for travel reimbursements, it needs to be carefully revisited,” says Jerry Botha, Master Reward Specialist and Executive Committee member of the South African Reward Association (SARA).
How to survive SARS audits and get the best outcome
For taxpayers who don’t engage with the SA Revenue Service (SARS) correctly, the price is either an unnecessary, drawn-out tax audit process or, if you’re caught, a very large tax bill.