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Banks get more power to block accounts

There has been an expansion of banks' power to hold funds on suspicion of a tax offence, as proposed in the 2017 draft Taxation Laws Amendment Bill and draft Tax Administration Laws Amendment Bill...

By Rudi Katzke 16 Aug 2017

New tax law stifles foreign work benefits

If passed by Parliament, the Draft Taxation Laws Amendment Bill proposal to remove foreign remuneration tax exemption will impact the willingness of South Africans to work abroad...

7 Aug 2017

Call for review of foreign trusts bill

Proposals contained in a draft bill to change the tax treatment of foreign trusts held by South Africans are aggressive and should be reconsidered, says Andrew Wellsted, director at Norton Rose Fulbright...

By Hanna Ziady 27 Jul 2017

New customs valuation on goods imported under franchise agreements

Importers in South Africa should be aware of the new customs valuation development affecting goods imported under franchise agreements, as this could affect the price they pay for the goods...

By Virusha Subban, Lee-Ann Annandale and Busisiwe Vil 24 Jul 2017

Entrepreneurs could feel the pinch of new trust laws

Entrepreneurs advancing interest-free funds to a company, held by a trust of which he/she is a beneficiary, will be affected by the tax law changes...

24 Jul 2017

Expats to be affected by new tax laws

The National Treasury has published draft tax law amendments for 2017, which contains details on tax treatment of South Africans performing their employment abroad...

By Jerry Botha 21 Jul 2017

Twin tax bills and their impact on other Acts

There are several amendments in the new tax bills that will impact on other labour-related legislation...

By Tarryn Atkinson 21 Jul 2017

What the new bills mean to corporate taxpayers

Two pieces of tax legislation have been published and are currently open for public comment before the final legislation is passed by parliament...

By Kemp Munnik 20 Jul 2017

Retrenchment and taxes - creating best packages

As retrenchments deepen in South Africa, employers need to understand the tax implications applicable to retrenchment packages to ensure that they leave the retrenched employees in the best possible financial position...

By Mariana Stander 19 Jul 2017

Sars takes aim at high-net-worth individuals

The South Africa 2017 Wealth Report indicates that the country is home to some 40,400 high-net-worth individuals (HNWI) with a combined wealth of $171bn...

5 Jul 2017

Employment Tax Incentive review needed to reduce payroll admin

The South African Revenue Service (SARS) introduced the Employment Tax Incentive (ETI) in January 2014 to stimulate employment for work seekers with little work experience and in the age bracket of 18-29...

By Lavine Haripersad 27 Jun 2017

When is tax payable on sale of property?

The Tax Court in M v the Commissioner for SARS recently addressed the question of when does income accrue to a taxpayer from the sale of immovable properties in the course of its trade...

By Graeme Palmer 27 Jun 2017

ETI needs revision to ease the admin burden

Although the motives are good, the negative impact of the ETI is that it places an administrative burden on payroll departments...

By Lavine Haripersad 23 Jun 2017

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International

Business mistakes too many law firms make

Being a really good attorney does not mean that you are a highly talented businessman or entrepreneur. This is something that is really important to understand since there is a pretty large number of law firms that end up bankrupt because of business related reasons, not because of problems caused by hired attorneys. With this in mind, here are some of the really common business mistakes that often appear with law firms and that can be disastrous in the long run.

By Boris Dzhingarov, Issued by Monetary Library 16 Aug 2017

British American Tobacco facing Africa fraud probe

LONDON, UK - British American Tobacco is being investigated for possible fraud regarding company activities in Africa, it announced on Tuesday.

3 Aug 2017

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