Sars Can Increase Your Tax Liability If You Appeal
Following years of litigation dating as far back as 2017, the High Court has confirmed that SARS is well within its right to increase, at appeal stage, the tax liability it has claimed in an additional assessment; without having to issue a new assessment first.
5 Reasons South Africans Consider a Second Passport
The Henley & Partners, in collaboration with Tax Consulting South Africa, hosted their annual roadshow in May 2023 on the topic of ‘Investment Migration Is More Than Just a Plan B.’. This again highlights the reasons why South Africans are considering getting a second passport.
The Market Has Spoken: Experienced Hands Needed to Navigate SARS’ Enhanced AIT Process
The market saw mixed reactions following the implementation of the enhanced Approval of International Transfers (AIT) process on 24 April 2023.
The Cost of Non-Compliance – SARS’ Shrapnel Knows No Borders
SARS has made it easier to clamp down on individuals it deems as “sophisticated taxpayers”, specifically those with the ability “to apply for more than the yearly R1 million single discretionary allowance”. This is per the SARS media statement on 3 May 2023, and is one of the reasons given for the new Approval for […]
Kieswetter Makes No Empty Promises – No One Is Above The Law!
On 24 May 2023, the South African Revenue Service (SARS) released Interpretation Note 129 (IN129), which provides clarity on the interpretation and application of the phrase “maximum tax rate applicable to the taxpayer” in section 222(5) of the Tax Administration Act 28 of 2011 (“TAA”). This is specific to when the applicable tax rate to […]