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Be prepared for transfer pricing rules
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 2 days ago

Nersa announces R32.69bn approval for Eskom RCA application
Nersa announces R32.69bn approval for Eskom RCA application

The National Energy Regulator of SA (Nersa) announced a R32.69bn approval for Eskom's regulatory clearing account (RCA) applications.

15 Jun 2018

#NewCampaign: Cosmopolitan SA petitions to end tampon tax
#NewCampaign: Cosmopolitan SA petitions to end tampon tax

Cosmopolitan South Africa has launched a petition to end tampon tax, calling all women to campaign against period poverty in South Africa...

By Jessica Tennant 12 Jun 2018

Why is Sars changing the tax season deadline?
Why is Sars changing the tax season deadline?

There's one month to go until the traditional tax filing season opens, however, this year things will be a bit different...

By Vincent Radebe 7 Jun 2018

Finance Minister, Nhlanhla Nene
Creating a framework for an inclusive financial sector

South Africa needs a financial sector that serves all and not just a privileged few, and therefore it is vital that there is a strong oversight framework in place...

5 Jun 2018

Nhlanhla Nene, minister of finance
VAT panel terms of reference amended

Following hearings in Parliament on 25 April 2018, Finance Minister, Nhlanhla Nene, has amended the terms of reference of the panel of experts to review the current list of zero-rated items...

30 May 2018

Twin Peaks: Breaking down the siloes
Twin Peaks: Breaking down the siloes

In South Africa, each institution is required to comply with its own industry-specific legislation, but that is changing with the implementation of Twin Peaks legislation...

25 May 2018

Tim Hutchinson, head of digital for financial markets, Standard Bank
#AfricaMonth: Fintech breaks down borders in FX trading

The evolution to electronic foreign currency trading in Africa, given its fragmented markets and lack of legacy infrastructure, was slow to start, but has gained in traction.

23 May 2018

Nhlanhla Nene, minister of finance. Photo: The South African
VAT review report due next month

The panel established to review a list off zero-rated food products will submit its report next month, said Finance Minister, Nhlanhla Nene, when he tabled the Treasury's budget vote at the National Assembly.

22 May 2018

Explainer: who will be doing what under South Africa's new 'Twin Peaks' model
Explainer: who will be doing what under South Africa's new 'Twin Peaks' model

South Africa has started implementing a new regulatory regime for the financial sector. Known as Twin Peaks, the approach was first adopted in Australia in 1998...

By Andrew Schmulow 21 May 2018

Rory Voller, CIPC commissioner
SA adopts XBRL for annual financial statement reporting

South Africa is one of the first countries on the continent to adopt XBRL for qualifying reporting entities submitting their annual financial statements...

18 May 2018

Panel of experts on VAT calls for submissions
Panel of experts on VAT calls for submissions

The Independent Panel of Experts, set up to review the current list of zero-rated Value Added Tax (VAT) items, has invited all interested stakeholders to make written submissions for their consideration...

11 May 2018

Treasury to host public financial management conference
Treasury to host public financial management conference

Finance Deputy Minister Mondli Gungubele is expected to address the second Public Financial Management (PFM) Conference that will get underway in Johannesburg today.

9 May 2018

Reforms to diesel tax refund system could hold welcome relief for struggling SA farmers
Reforms to diesel tax refund system could hold welcome relief for struggling SA farmers

"Government has an immediate and obvious avenue to ease the burden of farmers, and help cash-flow and profit generation and we hope that the coming months will see speedy legislative reforms that introduce a practical and more lenient approach to diesel rebates so that farmers are able to fully benefit."

9 May 2018

Suspended Sars commissioner, Tom Moyane
Tom Moyane served with disciplinary charges

Suspended SARS Commissioner Tom Moyane has been served with disciplinary charges, the Presidency announced...

4 May 2018

New tax laws: What are SA expats' options?
New tax laws: What are SA expats' options?

South African expatriates need not only understand the new expatriate tax law, but also act on it or face dire tax consequences...

By Jonty Leon 3 May 2018

Tertius Troost, tax consultant at Mazars
The not-so-sweet consequences of sugar tax

South Africans may not be able to fully appreciate how far-reaching the so-called sugar tax, which Treasury introduced on 1 April 2018, really is...

3 May 2018

Faith Ngwenya, Saipa technical executive
Saipa: Non-compliant tax practitioners risk deregistration

The South African Institute of Professional Accountants (Saipa) has urged its tax practising members to ensure they are compliant with Sars requirements...

2 May 2018

Hanno le Roux
SARS wants their bit of your bitcoin

A look into what guidance SARS has provided on how cryptocurrencies should be treated for tax purposes, as well as some key questions which still remain...

By Hanno le Roux, Issued by Meredith Harington 30 Apr 2018

Gary Allemann, managing director of Master Data Management
Governance can minimise data complexity in the financial sector

Most financial giants have been around for decades. Over the years, they have built up a complex array of systems, platforms and various other data sources which interconnect across multiple levels...

By Gary Allemann 26 Apr 2018

Climate change risk is real and here to stay
Climate change risk is real and here to stay

Climate change will play a significant role in strategic planning in the future, due to the potentially enormous financial risks it poses to companies, particularly those operating within certain sectors or in certain regions...

25 Apr 2018

Candice Gibson
How will Sars tax cryptocurrencies?

South Africa has chosen to tax cryptocurrency in line with the trends of countries such as the United States (US), India and Canada...

By Candice Gibson 23 Apr 2018

Paperless customs reporting system launches
Paperless customs reporting system launches

The South African Revenue Service (Sars) will introduce a new electronic cargo reporting system which will be able to track the movement of cargo coming into and leaving the country this weekend...

20 Apr 2018

Nick Saunders, cyber resilience expert, Mimecast Africa and Middle East
Five important things to remember about GDPR

With the large quantities of personal data financial services providers handle, they have had their hands full preparing for the Protection of Personal Information Act (PoPI)...

20 Apr 2018

Law amendments will strengthen IRBA's mandate
Law amendments will strengthen IRBA's mandate

Since the scandals around the accounting and auditing profession erupted last year, the SCoF has recognised the need to strengthen the IRBA oversight powers...

18 Apr 2018

Changes to controlled foreign company tax laws
Changes to controlled foreign company tax laws

The controlled foreign company (CFC) rules are aimed at preventing South African taxpayers from locating companies in low tax jurisdictions in an effort to avoid paying South African tax.

By Nola Brown and Sean Gilmour 13 Apr 2018

When debt relief causes debt distress
When debt relief causes debt distress

The proposed debt relief measures in the 2017 amendments to section 19 and paragraph 12A of the Eighth Schedule of the Income Tax Act 58 of 1962 (ITA) did not provide much relief to assist companies in financial distress...

By Joon Chong and Wesley Grimm 12 Apr 2018

Health tax deterrent goes up in smoke
Health tax deterrent goes up in smoke

The increase in excise tax on tobacco products above the inflation rate, announced in the Budget Speech in February, was erroneously lauded by tobacco control lobbyists...

11 Apr 2018

Is it worth chasing travel rebates under new SARS' rules?
Is it worth chasing travel rebates under new SARS' rules?

Which is better - company car or travel allowance? It's a question that regularly plagues both employers and employees, and in light of new SARS requirements for travel reimbursements, it needs to be carefully revisited...

10 Apr 2018

Do not go gently into that good Declaratory Order
Do not go gently into that good Declaratory Order

A declaratory order is a flexible remedy which can assist in clarifying issues of law expeditiously. It is by no means a new and faster means of obtaining certainty in disputes with SARS...

By Yashika Govind, Nirvasha Singh and Hillary Botha 9 Apr 2018

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