SARS Is Sticking to Its Promise of Dramatically Faster Turnaround Times
The South African Revenue Service (SARS) recently made several changes to its Tax Compliance Status (TCS) process. According to their media statement on 3 May 2023, SARS states that these changes, or “enhancements”, aim to “dramatically improve turnaround times” for compliant taxpayers and traders seeking to transfer funds out of South Africa.
One Last Opportunity for the Portugal Golden Visa – The Time Is Now
Living in Portugal is the dream for many South Africans, and those wishing to make this dream a reality often opted to apply for a golden visa. According to Henley & Partners, a leading global investment migration firm, a golden visa grants approved applicants’ full residence rights in exchange for a defined economic contribution to […]
Tax Debt Relief Solutions – How, When, and Why
In line with the strategic objective of making compliance easy, and in some instances seamless, the South African Revenue Service (“SARS”) has afforded taxpayers the assistance of obtaining compliance, even when they are unable to fully service their tax debts. This avenue of reprieve is available by means of the tax debt relief solutions contained […]
The New SARS “Solar Energy Tax Credit”
The proposed new law regarding the tax credit available to individuals who install solar panels has been announced. The system will be introduced in the form of a tax credit, as opposed to a tax deduction. This is good news as it affords individuals with a uniformed opportunity in claiming the same tax credit. Under […]
HR & Payroll Can Debunk Tax Myths with Training
Most employees do not understand the complex tax calculations the payroll team applies to their monthly earnings and often inundate them and Human Resources with questions about their deductions. The many tax myths shared by and amongst employees and professionals alike only fuel these misunderstandings and misconceptions, leaving employees in the dark.