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.
VAT
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NCA Credit providers’ FICA obligations
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Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
Positive amendments to VAT regulations relating to electronic services
The amendments will relieve offshore companies from VAT registration when supplying services to domestic vendors, aligning SA with global best practice.
Constitutional Court to rule on remission of interest post-VDP agreement
The decision could set a precedent for taxpayers seeking relief from interest after reaching a Voluntary Disclosure Programme agreement with SARS.
ConCourt judgment in Capitec vs SARS clarifies important VAT principles
The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.
How much tax you may have to pay to fund NHI
The substantial tax increases would have to be implemented in an already tough economic environment, says a report by FTI Consulting.
Fiscal risks to SA remain despite government’s debt-containment measures
National Treasury continues to toe the line between fiscal continuity, consolidation, and declining revenues amid an increasingly stagnant local economy.
Godongwana’s financial juggling is no substitute for economic growth
Whether the objectives as set out in the Budget are achievable will be determined by the government’s political will to anchor expenditure and put resources to better use.
EU court case may have bearing on SA law
The Court of Justice of the European Union’s recent ruling on the Value Added Tax treatment of directors’ fees prompts a reassessment of local legislation to ascertain the necessity of imposing Vat on such fees.
Uncertainty over ‘place of supply’ rules for cross-border transactions
Place of supply rules are becoming more important as transactions become increasingly digital and supply chains become more complex.
‘Major disruptions’ ahead for vendors as Sars modernises its VAT administration framework
Vendors may have to acquire new software to be able to communicate with the Sars systems, or they may have to adjust their existing systems.
A summary of Sars’s VAT modernisation discussion document
Sars has published a discussion paper on its intended modernisation of the VAT collection system, which will ultimately make VAT reporting faster and more transparent.
Sars defends its handling of VAT refunds and taxpayer disputes
The South African Revenue Service (Sars) has defended the way it handles VAT audits after this issue, as well as the time taken to resolve disputes, was raised by the Tax Ombud in […]
Sars searches homes of employees in the gold and banking sectors
The South African Revenue Service (Sars) has searched the homes of employees in the gold and banking sectors as part of its investigations and audits into illicit financial flows and illicit trade in […]
Sars is not targeting taxpayers unfairly, says Kieswetter
The SA Revenue Service (Sars) has “a long way to go” before its service reached an acceptable level and it was “striving hard” to strike a better balance between customer service and risk […]
10 predictions for this week’s Budget
Minister of Finance Enoch Godongwana will deliver his maiden Budget speech on Wednesday. After almost two years since South Africa declared a State of Disaster in light of the Covid-19 pandemic, the economic […]
VAT rate on short-term insurance transactions
The South African Insurance Association has compiled a list of questions and answers to provide guidance in respect of the impact of the change in VAT rate on short-term insurance transactions. Note from […]
How will the VAT increase impact short term insurance policies?
The recent announcement of the change in the Value Added Tax rate from 14% to 15% effective 1 April 2018 did not leave much time for companies across different industries to amend their systems to […]
