#MandelaMonth

TLAB looks at changing tax on unit trusts

Treasury appears to have taken a tough and inflexible stance in addressing the ongoing industry debate on the income tax treatment of disposal of assets within a collective investment scheme (CIS) - or unit trusts...

5 hours ago

25% tax on international branding services?

Whether it be research, strategy, identity design or communication, the 'big guys' are often importing the services of agencies from the UK, Europe and/or The States, at mammoth cost, and with often lacklustre results...

By Giles Shepherd 3 days ago

How Sars may treat cryptocurrencies

The draft Taxation Laws Amendment Bill (TLAB) contains proposals made by Treasury on the tax treatment of cryptocurrencies...

By Tertius Troost 18 Jul 2018

Treasury publishes draft tax laws bills

National Treasury has published the draft Taxation Laws Amendment Bill, (TLAB) and draft Tax Administration Laws Amendment Bill (TALAB) for public comment...

17 Jul 2018

Criminal prosecution: Just another reason to pay your tax

The country's tax base have reason to be a tad nervous, now that Sars has embarked on an initiative to criminally prosecute taxpayers who fail to submit their returns...

By Jean du Toit 12 Jul 2018

Do you understand Sars' tax understatement penalty behaviours?

On 1 October 2012 the understatement penalty regime was introduced to replace the additional tax regime...

By Esther Geldenhuys 9 Jul 2018

VAT panel will not review fuel price hikes: Treasury

National Treasury has clarified that the mandate of the Independent Panel of Experts appointed to review the current list of zero-rated items has not been expanded to look at the impact of fuel hikes...

6 Jul 2018

When does prescription start to run against Sars?

There are periods of limitations for issuing assessments which are set out in section 99 of the Tax Administration Act 28 of 2011 ("TAA")...

By Graeme Palmer 27 Jun 2018

What is XBRL and how does it affect your financial reporting?

The fast-moving technology and information age have changed our lives, and similarly digital financial reporting is transforming the business world...

By Mpho Simelane 26 Jun 2018

Urgent reinstatement of tax compliance status granted

For certain taxpayers, a tax clearance certificate is of utmost importance in ensuring that it is able to receive payment and to tender for new services...

By Joon Chong, Issued by Webber Wentzel 21 Jun 2018

Be prepared for transfer pricing rules

For some time, multinational enterprises have been bracing for the impending enforcement by the South African Revenue Service (Sars) of transfer pricing rules...

By Jean du Toit 21 Jun 2018

Travellers urged to comply with SA's import regulations

The Department of Agriculture, Forestry and Fisheries has called all international travellers, who will be visiting South Africa during the June and July school holidays, to comply with the country's import requirements for agricultural and related regulated products...

18 Jun 2018

Unforeseen tax impact in amendments to articles of association

A recent Supreme Court of Appeal judgement illustrates the importance of obtaining tax advice where rights, privileges or conditions of shares may potentially be affected by amendments to the memorandum of incorporation of a company...

By Joon Chong & Daniel Kirk-Cohen, Issued by Webber Wentzel 8 Jun 2018

Notification of commencement of audit

The obligation of SARS to collect tax and taxpayers' rights are often at odds with each other. In an attempt to address this issue, the Budget 2018 (Budget) proposes to reconcile the taxpayers' constitutional rights with SARS' constitutional obligations by including a provision in the Tax Administration Act 28 of 2011 (TAA) ...

By Yashika Govind and Nirvasha Singh, Issued by Webber Wentzel 28 May 2018

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