#MandelaMonth

Tertius Troost, senior tax consultant, Mazars
How Sars may treat cryptocurrencies

The draft Taxation Laws Amendment Bill (TLAB) contains proposals made by Treasury on the tax treatment of cryptocurrencies...

By Tertius Troost 3 days ago

Ettiene Retief, chairman of the national tax and Sars committee at SAIPA
Getting Sars back on track

The South African Revenue Service (Sars) seems to be pulling all the stops to get back on track and to collect taxes in an efficient and effective way...

17 Jul 2018

Treasury publishes draft tax laws bills
Treasury publishes draft tax laws bills

National Treasury has published the draft Taxation Laws Amendment Bill, (TLAB) and draft Tax Administration Laws Amendment Bill (TALAB) for public comment...

17 Jul 2018

Jean du Toit, attorney at Tax Consulting SA
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 12 Jul 2018

Do you understand Sars' tax understatement penalty behaviours?
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
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

Proposed domestic carbon tax - What a song!
Proposed domestic carbon tax - What a song!

During a concert in 1983, Bono, the lead singer of U2 and well-known humanitarian, said the following: "There's been a lot of talk about this next song. Maybe too much talk." This is how I feel about the proposed domestic carbon tax. It has been a long process. Let me explain...

By Dr Marco Lotz, Issued by Enterprises University of Pretoria 5 Jul 2018

Sars goes paperless for 2018 tax season
Sars goes paperless for 2018 tax season

The South African Revenue Service (Sars) has gone paperless as of 1 July 2018 as it encourages taxpayers to use eFiling for all their tax transactions where possible...

2 Jul 2018

How to beat the odds and stay wealthy
How to beat the odds and stay wealthy

Not only does it take considerable work and aspiration to build wealth, but preserving wealth equally demands hard work and attention...

By Riëtte Coetzee 28 Jun 2018

When does prescription start to run against Sars?
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

New Insurance Act takes effect in July
New Insurance Act takes effect in July

The National Treasury says the new the Insurance Act will come in effect on 1 July 2018...

27 Jun 2018

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 21 Jun 2018

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

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