The Downfall of Crafty Taxpayers Who Hide Income From SARS and Seek to Rely on Prescription
All taxpayers should arrange their tax affairs to obtain the best advantage and to pay the least amount of tax. This is a right every taxpayer possesses, and well entrenched in South African and international tax law. However, this planning must be done within the constraints of what the law allows.
CIPC and SARS Align to Eradicate Non-Compliance at All Levels
If you hold “Beneficial Ownership” in relation to a company, you should already be aware of the new “Beneficial Ownership Register” functionality now on the Companies and Intellectual Property Commission’s e-services platform.
SARS Still Has Its Eye on SA Expats
South African expatriates (SA expats) who work and live abroad are cautioned to ensure their tax affairs are up to date, to avoid falling foul of SARS’ drive for full tax compliance. This is especially the case now that SARS has drastically turned its wheel to ensure the collection of all taxes due and payable.
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
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.