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Namibian finance minister, Calle Schlettwein. Photo: The Namibian
Namibia slams 'unjust' listing on EU tax haven blacklist

WINDHOEK - Namibia has criticised its listing on a new European Union blacklist of tax havens as unjust and biased, blaming the status on missing a deadline to comply...

7 Dec 2017

How a cleverly prepared contract can save millions
How a cleverly prepared contract can save millions

The recent matter of The Commissioner for SARS v Reunert Ltd highlights the importance of possessing an intimate understanding of contractual principles when drafting an agreement...

By Christopher Renwick 6 Dec 2017

Twin Peaks: Days of silo regulators are over
Twin Peaks: Days of silo regulators are over

The days of silo regulators within the financial services sector are soon ending. Twin Peaks will see the establishment of a dedicated prudential regulatory authority in the South African Reserve Bank (SARB) and a new Financial Sector Conduct Authority (FSCA).

By Lesego Mafadza, Derek Vice, Finn Elliot and Nicky 6 Dec 2017

Tax increases to hit retirement savings
Tax increases to hit retirement savings

We all know tax increases are on its way, the question is which tax types and by how much...

By Jerry Botha 5 Dec 2017

Catholic bishops urge mining companies to stop using tax havens
Catholic bishops urge mining companies to stop using tax havens

The Justice and Peace Commission for Southern African Catholics Bishops Conference (SACBC) has written to 21 mining companies operating in South Africa asking each to explain why it is using tax havens...

Issued by SACBC Justice and Peace Commission 30 Nov 2017

Sars head, Tom Moyane. Photo: TimesLIVE
Moyane maintains Makwakwa is cleared to return

After 27 days Sars commissioner Tom Moyane has "broken his silence" on the controversial return of Jonas Makwakwa to the tax collection agency...

By Kyle Cowan 28 Nov 2017

Glen Bresler
Sellers of property beware - You may have to pay taxes on gains made before you receive the proceeds on sale

Cashflow difficulties can arise when an agreement of sale is concluded in one tax year but proceeds (usually on transfer of the property) are received in the following tax year...

By Glen Bresler, Issued by Meredith Harington 27 Nov 2017

Auditor-general finds Sars bonuses illegal
Auditor-general finds Sars bonuses illegal

The South African Revenue Service (Sars) has failed to comply with legislation by unlawfully paying bonuses to staff without the approval of Finance Minister Malusi Gigaba, the auditor-general has found...

By Linda Ensor and Natasha Marian 23 Nov 2017

National Assembly approves sugar tax
National Assembly approves sugar tax

The bill providing for the implementation of a tax on sugary beverages - the health promotion levy - was passed by the National Assembly on Tuesday...

22 Nov 2017

Ruling on special tax provision spells good news for franchise operators
Ruling on special tax provision spells good news for franchise operators

In a recent landmark case, the Tax Court upheld that a very special, and mostly under-utilised tax deduction allowed by section 24C of the Income Tax Act, No. 58 of 1962, may be applied to franchisee costs...

By Natasha Wilkinson 16 Nov 2017

Proposed mining financial provisioning regs will overhaul the NEMA
Proposed mining financial provisioning regs will overhaul the NEMA

The Proposed Regulations Pertaining to the Financial Provision for Prospecting, Exploration, Mining or Production Operations were published for comment last week.

By Garyn Rapson and Kirsty Kilner 15 Nov 2017

Oil and gas tax needs tweaks, not overhaul, says Davis Tax Committee
Oil and gas tax needs tweaks, not overhaul, says Davis Tax Committee

No major changes to the existing fiscal regime for the oil and gas industry have been proposed by the Davis Tax Committee...

By Linda Ensor 15 Nov 2017

Health minister, Aaron Motsoaledi
NHI could mean uncomfortable trade-offs, Davis Tax Committee warns

The government's current proposals for National Health Insurance (NHI) are unlikely to be sustainable unless there is sustained economic growth...

By Tamar Kahn 15 Nov 2017

Michael Sachs. Photo: BusinessLive
Fears Sachs's resignation could spark exodus of Treasury officials

FEARS are rising that National Treasury deputy director-general Michael Sachs' resignation will prompt other respected officials to quit...

15 Nov 2017

Judge Dennis Davis
Davis commission calls for mining sector's upfront capex tax to be scrapped

The Davis Tax Committee has recommended that the special tax regime for the mining sector be abolished...

By Linda Ensor 14 Nov 2017

SA needs a tax bill of rights to govern how Sars treats taxpayers
SA needs a tax bill of rights to govern how Sars treats taxpayers

The Davis Tax Committee has recommended SA adopt a taxpayer bill of rights...

By Linda Ensor 13 Nov 2017

'Suspicious' SARS deposits not probed
'Suspicious' SARS deposits not probed

As South African Revenue Service (SARS) commissioner Tom Moyane braces for an inquiry into the administration of the tax agency, further damaging revelations emerged on the investigation into its second-in-charge, Jonas Makwakwa...

By Natasha Marrian 10 Nov 2017

Bills on 'sugar tax' and tax exemption adopted in Parliament
Bills on 'sugar tax' and tax exemption adopted in Parliament

Parliament's finance committee has adopted bills on a health promotion levy and amending the tax exemption for income earned by South Africans working abroad...

By Linda Ensor 10 Nov 2017

Gigaba asks Zuma to establish inquiry into Sars
Gigaba asks Zuma to establish inquiry into Sars

Finance minister Malusi Gigaba has approached President Jacob Zuma to urgently establish an inquiry into the tax administration and governance of the Sars...

By Asha Speckman 8 Nov 2017

Six proven benefits of VAT automation for a better tax system
Six proven benefits of VAT automation for a better tax system

Technology today has been a huge help to various forms of businesses and so, too, with the global VAT system...

Issued by Dexon Limited 7 Nov 2017

Dr Johann Serfontein, Free Market Foundation health policy unit
Free healthcare for all: A political fairytale

Free healthcare for all is not only a long-standing election promise, but also the cornerstone of the National Health Insurance White Paper...

2 Nov 2017

Desiree Goodwin
Your will - is your executor qualified?

We all want to ensure that our loved ones are not unnecessarily burdened with complications after our death. One way to ensure that this does not occur is to appoint a suitably qualified executor...

By Desiree Goodwin, Issued by Meredith Harington 31 Oct 2017

Makwakwa to return to SARS as hearing finds him not guilty

The South African Revenue Service's (Sars) second in charge, Jonas Makwakwa, returns to the institution as chief officer for group and individual tax on November 1...

By Natalie Marrian 31 Oct 2017

Significant amendments in newly released tax bills
Significant amendments in newly released tax bills

The tax amendment bills were released with the Medium Term Budget Policy Statement 2017 last week, with significant amendments in both...

By Joon Chong 30 Oct 2017

@ Glyn Spencer via
Taxi operators need financial management skills to compete

The University of the Western Cape's School of Business and Finance has produced research assessing the financial management skills of taxi operators in Cape Town...

30 Oct 2017

How do you pay tax on cryptocurrencies?
How do you pay tax on cryptocurrencies?

Cryptocurrencies are completely unregulated, and although not regarded as legal tender, there are no laws preventing them being used as payment...

By Graeme Palmer 30 Oct 2017

Photo: Econex
Medical tax credits to go?

There has been talk for some time now about the National Health Insurance (NHI) and how it will be funded...

25 Oct 2017

Winners of SAIPA Tax Thesis Competition
Winners of SAIPA Tax Thesis Competition

From a record number of 36 entries received, the winners of the 2017 South African Institute of Professional Accountants' (SAIPA's) 2017 Tax Thesis Competition, sponsored by EY, were announced on 19 October...

24 Oct 2017

The dangers that lurk in land expropriation without compensation
The dangers that lurk in land expropriation without compensation

If expropriation without compensation is allowed, it could endanger the faith banks place in the land as security and set into motion a chain-reaction that eventually leads to the ordinary consumer losing out...

23 Oct 2017

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