#MandelaMonth

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 3 days ago

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

Overlap in treatment of dividend

Section 1 of the Income Tax Act (ITA) defines a "dividend" to be any amount transferred by a resident company for the benefit of any person in respect of any share in that company whether by way of a distribution or consideration for a share repurchase but does not exclude a reduction of contributed tax capital of the company...

By Joon Chong, Issued by Webber Wentzel 25 May 2018

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

ISCC Group entered into joint venture with Europlaw Group

Ithuba Savings Credit Corp Limited representing ISCC Group, conducting business mainly in Indonesia and Germany agreed to enter into a formal mutual business collaboration of appointing Europlaw Group as its legal and accounting team for their group of companies internationally...

Issued by Europlaw 18 May 2018

Nations in new push to boost intra-Africa trade

The AfCFTA's potential as a tool for driving industrialisation, economic diversification and development was highlighted at the start of the UN Economic Commission for Africa's Conference of Ministers...

By Benjamin Ouma 15 May 2018

Show more