The tax season opened on the 1st of July for individuals to submit their Income Tax returns. The deadline dates differ according to the method of submission and is as follows: 2 September 2017 for manually submitted returns; 24 November 2017 for returns submitted electronically at a SARS branch or via e-filling; or 31 January […]
In terms of section 25 of the Tax Administration Act, 2011, Commissioner for SARS Tom Moyane promulgated Public Notice 547, which sets out the requirements for which persons how to submit income tax returns for 2017 year of assessment. In terms of section 25 of the Tax Administration Act, read with section 66(1) of the […]
The South African Revenue Service (SARS) has committed to the automatic exchange of tax information with the revenue authorities of over 50 other jurisdictions under the Organisation for Economic Co-operation & Development (OECD) Common Reporting Standard (CRS) by September 2017.
The Unemployment Insurance Amendment Act, No. 10 of 2016 (“the Act”), is aimed at having a positive effect on the country’s labour force. Furthermore, there are likely to be positive effects on the economy as well. The Act will see those who lose their jobs receive money for a longer period when they apply for […]
Expatriate Tax Exemption & Budget Speech Announcement 2017/18 and Social Media Comments
We have noted with concern the comments made on various posts about fake news. Some comments include listening to the whole budget speech and not finding any reference. Our only intention is to share the correct tax position, to allow proactive planning (as various legitimate planning opportunities will remain viable, through using international tax law, […]
BUDGET 2017: TAX CHANGES The 2017 budget lived up to the expectation created by the Finance Minister with the medium term budget policy statement late last year in which it was made clear that R28bn in additional tax revenue must be generated. Tax increases were announced as follows:
OBJECTIONS AND APPEALS:THE HELPLESS TAXPAYER? Only assessments and certain prescribed decisions are subject to objection and appeal in terms of section 104 of the Tax Administration Act, No. 28 of 2011 (“the TAA”). There are a multitude of decisions that can be made by SARS and that are not subject to objection and appeal. These […]
Pravin targets expatriate employees to Dubai There is probably no-one more unhappy about the budget speech announcements than expatriate employees to Dubai.
The position for non-executive directors remain complex, despite the recent SARS General Rulings. The general rules confirmed in these Rulings are that non-executive director fees will, with effect 01 June 2017, not be subject to employees’ tax withholding and will be subject to VAT where the non-executive director is liable for VAT, either through voluntary […]