Tax Debt – A Silent Killer; More Than What Meets the Eye

Tax debt can creep into your life if left unchecked; having dire financial and lifestyle, consequences for you, and potentially, your family.

SARS Gazettes New Era for Trusts, aiming at Trustees and Beneficiaries

SARS Gazettes New Era For Trusts, Aiming At Trustees And Beneficiaries

On 30 June 2023, in a Gazetted public notice, the South African Revenue Service (SARS) formally expanded its third-party reporting standards to include trusts. Now, all South African trusts, and some foreign trusts, are required to submit returns containing third-party information as specified by SARS.

Company Confidential Shareholding Days are Over

Company Confidential Shareholding Days Are Over – Deadline For CIPC Beneficial Ownership

On 1 April 2023, the Companies and Intellectual Property Commission (CIPC) released its new “Beneficial Ownership Register” functionality on its e-services platform. This new requirement has placed companies under the spotlight as they must now declare their Beneficial Ownership to the CIPC.

Tax Filing Season 2023 Is Here: These Are The Changes You Need To Know

The South African Revenue Service (SARS) has confirmed that the 2023 tax season will commence as follows: Individual taxpayers (non-provisional): 7 July 2023 to 23 October 2023 Provisional taxpayers: 7 July 2023 to 24 January 2024

Taxpayers Remain Unaware of SARS’ Saving Grace For Non-Compliance

The South African Revenue Service (SARS) has continually granted a lifeline to non-compliant taxpayers by keeping the Voluntary Disclosure Programme (VDP) open, which allows non-compliant taxpayers to come clean. The VDP came as a saving grace for many, especially as SARS began ramping up its efforts to eliminate non-compliance and massive collection drives.