SARS’s enhanced compliance efforts add R301.5bn to revenue
The South African Revenue Service outperformed its revised estimates for 2024/25, buoyed by strong personal income tax, VAT, and company income tax collections.
#taxcompliance
SARS’s tax collection powers strengthened – will enforcement get tougher?
Taxpayers may struggle to challenge SARS’s authority to repatriate foreign assets after a High Court ruling upheld its powers, potentially paving the way for more assertive tax enforcement.
SARS ramps up scrutiny as trust and provisional tax filings surge
With more tax returns submitted, SARS is intensifying efforts to ensure full compliance, particularly among trusts, using AI and data-driven enforcement.
Corporate taxpayers sceptical of SARS’s service delivery gains
Half of corporate taxpayers in PwC’s latest survey express dissatisfaction with SARS’s service improvements. Only 3% report a positive shift, while audit delays and penalty disputes remain a major pain point.
SARS will tighten the compliance screws to hit R1.84 trillion tax target
The MTBPS shows tax revenue will be below the Budget estimates, but SARS is adamant it will do everything in its power to collect as much money as it can.
Amendment to ADR process may resolve tax disputes faster
Taxpayers may soon have a faster, cost-effective way to resolve disputes with SARS through alternative dispute resolution at the objection phase.
Under-reported crypto income may lead to tax assessments on past profits
With SARS tightening crypto enforcement, taxpayers should review their past filings, ensure accurate reporting of crypto profits, and consider the Voluntary Disclosure Programme to avoid severe penalties and interest.
Two-pot withdrawals: taxpayers who understate their income face penalties
SARS has processed more than 1.2 million tax directives for savings component withdrawals, paying out R21.4 billion to fund members.
‘Instructive remarks’ from the Constitutional Court on understatement penalties
Expert legal interpretations, even if contrary to SARS’s stance, may not automatically result in understatement penalties.
SARS is clamping down on undeclared crypto holdings and trades
Among other measures, SARS says it is engaging with the FSCA about providing information on registered crypto asset service providers.
Precedent-setting case highlights legal hurdles in transfer pricing disputes
The tax dispute between ABD and SARS highlights the complexity of IP royalty pricing and the importance of expert testimony in transfer pricing audits.
Final countdown for administrators and employers to prepare for the two-pot system
Discovery Corporate and Employee Benefits provides a checkist of what employers should be doing before 1 September.
Digital drive fuels compliance, latest tax statistics show
Tax experts Louis Botha and Nicholas Carroll from Cliffe Dekker Hofmeyr discuss the significance of 2023 Tax Statistics, emphasising the potential impact of additional tax measures, the growth of the taxpayer base, and insights into Company Income Tax trends.
