The Dark Side Of The 2022 Budget
From the taxpayer’s perspective, the 2022 Budget Review may have been received relatively well. Tax rates were not increased, the tax brackets and rebates for personal income tax were adjusted for inflation, fuel and RAF levies both remain unchanged for the first time in more than 30 years and the corporate tax rate is set […]
Tax Court Judgement – In Favour Of #Taxpayer
In a recent Tax Court Judgment handed down on 25 February 2022, the Court found in favour of an unnamed taxpayer, admonishing SARS for their persistent disregard for the time limits prescribed in the rules promulgated under Section 103 of the Tax Administration Act, 28 of 2011 (“the Rules”). The Court further confirmed that SARS’ […]
#Budget2022 | South African Expats Remain Top Priority For SARS
The Budget Review 2022 was far from a “good news” budget for South Africans working abroad (“expats”). For the 5th consecutive year, there has been changes proposed that clearly indicate that SARS is still targeting expats and view them as low-hanging fruit to boost revenue collection.
Budget 2022 – National Treasury Backs SARS’ Tough New Disclosure for The Rich
The Budget 2022 announced a new tax disclosure for wealthy taxpayers. This is part of SARS’ High Wealth Individual strategy and where a dedicated unit is now operating within SARS to focus on these taxpayers.
10 Key Highlights from the 2022 Budget Speech
The Minister of Finance, Enoch Godongwana, delivered his maiden Budget Speech this afternoon. Discussed below are 10 key highlights from the 2022 Budget Review.