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What are transport services "rendered by the employer"? Sars clarifies...
What are transport services "rendered by the employer"? Sars clarifies...

To assist employers and employees with overcoming transport-related difficulties, the Income Tax Act introduced a mechanism to allow employers to provide transport services to their employees and that, although qualifying as a taxable fringe benefit in the employees' hands, no taxable value was given to such benefit...

By Wesley Grimm, assisted by Sergio dos Santos 16 May 2019

Jail time for corrupt ex-Sars auditors
Jail time for corrupt ex-Sars auditors

South African Revenue Service Commissioner Edward Kieswetter has welcomed the three-year direct imprisonment sentences handed to two former Sars auditors in Durban last week...

15 May 2019

Legislation can guard against political interference and maladministration. Bakhtiar Zein/Shutterstock
Stronger laws can keep politicians from meddling in financial decisions

For governments to function optimally, there must be a good relationship between politicians and administrators. This "political-administrative interface" is a key theme of public administration, both in theory and in practice...

By Tania Ajam 13 May 2019

Unpacking the draft Conduct Standard for Banks...
Unpacking the draft Conduct Standard for Banks...

The draft Conduct Standard - published for public comment on 3 May 2019 - aims to introduce requirements applicable to banks, mutual banks and co-operative banks that promote the fair treatment of financial customers of banks...

By Dawid de Villiers, Johann Scholtz and Jessica du Toit 10 May 2019

Africa's big 5 keys to financial transformation, inclusion
Africa's big 5 keys to financial transformation, inclusion

With mobile money continuing to dominate the continent's commerce growth, opening doors to business to everyone from a rural farmer to an entrepreneur, and cross-border seeing inter-country transactions on the rise, the continent is making a play to be the world's biggest e-commerce opportunity...

9 May 2019

Image source: Getty/Gallo
6 Sars audit tips for the captured

What should Edward Kieswetter's first actions be now that he has taken over the reins at South African Revenue Service (Sars)?

By Jean du Toit 2 May 2019

Sars brings in tech to fight illicit trade
Sars brings in tech to fight illicit trade

The South African Revenue Service (Sars) has embarked on a number of strategic initiatives to curb revenue leakages emanating from illegal and unethical practices in the illicit economy.

30 Apr 2019

Johannesburg’s economic hub, Sandton, lies right next to the sprawling and extremely poor Alexandra township.
Paul Saad/Flickr, CC BY-NC-ND
Why South Africa should seriously consider taxing its wealthy citizens

It's well-established that South Africa has one of the most unequal income distributions in the world...

By Ingrid Woolard 30 Apr 2019

Image source: Getty/Gallo
IT has a crucial role to play in the fight against money laundering

The highly publicised debacle of Angelo Agrizzi and six others, who were recently charged with money-laundering and fraud, has brought these issues into the spotlight in South Africa...

By Anusha Singh 15 Apr 2019

Image source: Getty/Gallo
Tax and the ethics of paying back the money

Companies can't just pretty up their board of directors with figure heads, appointed for their reputation and the contacts that they will bring to the particular organisation...

By Jerry Botha & Jonathan Goldberg 15 Apr 2019

The cost of failing to notify authorities of mergers
The cost of failing to notify authorities of mergers

The Competition Commission has sought to provide some guidance regarding the notification and implementation of mergers by publishing Guidelines for the determination of administrative penalties for failure to notify mergers and implementation of mergers contrary to the Competition Act...

By Burton Phillips 11 Apr 2019

Expect delays as Sars migrates electronic services hosting platform
Expect delays as Sars migrates electronic services hosting platform

The South Africa Revenue Service (Sars) has warned taxpayers to expect delays on some of its electronic services during its migration to a new hosting platform...

10 Apr 2019

How did loadshedding impact the fiscus?
How did loadshedding impact the fiscus?

While a diesel shipment arrived and provided relief to the dire stage 4 loadshedding in South Africa last month, this may be short-lived if the boiler tubes are not repaired by the time the diesel is burnt by the open-cycle gas turbines...

9 Apr 2019

Verification vs tax audits - Sars must give notice of both
Verification vs tax audits - Sars must give notice of both

It's that time of the year.... When we all have the tedious task of gathering documentation and tax certificates and ensuring we are compliant with Sars. But once it's done, it is a huge weight off individuals and companies' shoulders...

5 Apr 2019

Property investment: How to make your tax returns work in your favour
Property investment: How to make your tax returns work in your favour

Through wise investment and managed expenditure, property investors can reduce the amount of money owed to the South African Revenue Service (SARS), explains Craig Hutchison, CEO of Engel & Völkers Southern Africa...

3 Apr 2019

Sars tax collection falls short by R14.6bn
Sars tax collection falls short by R14.6bn

The South African Revenue Services (Sars) has collected an amount of R1.28trn for the 2018/19 financial year, a R14.6bn deficit from the R1.3trn targeted in the 2019 Budget estimate...

2 Apr 2019

Updated titles provide useful start for 2019 financial planning decisions
Updated titles provide useful start for 2019 financial planning decisions

The new year brings new opportunities for success, but sound financial decisions require a big picture view and understanding of the South African financial planning and regulatory environment...

Issued by LexisNexis 1 Apr 2019

Edward , new Sars commissioner
Edward Kieswetter named new Sars commissioner

President Cyril Ramaphosa announced that former SA Revenue Service (Sars) deputy commissioner Edward Kieswetter has been appointed as the new commissioner for Sars...

28 Mar 2019

Cooperation and economic growth in Africa
Cooperation and economic growth in Africa

Africa must prioritise domestic revenue mobilisation to triple growth and meet its development goals and targets over the next few decades...

28 Mar 2019

Proposed zero-rating of sanitary towels (pads) a slightly hollow victory for SA women - here's why
Proposed zero-rating of sanitary towels (pads) a slightly hollow victory for SA women - here's why

During the medium-term budget in October 2018, the minister of finance announced that sanitary towels (pads) will be included in the list of those items that are zero rated for VAT purposes...

By Kagiso Nonyane 28 Mar 2019

As if an audit isn't bad enough, Sars can make you pay for it too
As if an audit isn't bad enough, Sars can make you pay for it too

For those who have been subjected to a Sars audit, it may be hard to imagine a reality where this experience can be any more agonising...

By Jean du Toit 27 Mar 2019

Rwandan President Paul Kagame. Rwanda has a booming economy that is controlled by an authoritarian regime Christian Marquardt/EPA-EFE
Rwanda's economic growth has given its strong state even more power

Rwanda has emerged as a model for economic development. The country has taken great strides just 25 years since its horrific genocide...

By Marie E Berry & Laura Mann 27 Mar 2019

Whether it's R1 or R1m - you have to be registered when lending money with interest
Whether it's R1 or R1m - you have to be registered when lending money with interest

The fall out between an elderly couple and their business partner, and the consequent lengthy legal battle, led to an interesting situation for anyone borrowing or lending money in South Africa...

By Lamis Adam 26 Mar 2019

Graeme Palmer
Sars and penalties for understatement

In addition to the tax payable, the South African Revenue Service (Sars) can impose penalties on a taxpayer for an understatement...

By Graeme Palmer 26 Mar 2019

Struan Robertson
Income tax: Preparing for the inevitable IT14SD

We have seen a substantial increase in SARS compliance monitoring through their audit department and a requirement to submit an IT14SD...

By Struan Robertson, Issued by Meredith Harington 26 Mar 2019

Africa's guide to sustainable development goals
Africa's guide to sustainable development goals

Africa must digitise its economies, broaden its tax base, prevent further deterioration of fiscal and debt positions, and aim for double-digit growth to achieve the UN 2030 global goals (SDGs), and the AU Agenda 2063...

25 Mar 2019

Several bills get green light from National Assembly
Several bills get green light from National Assembly

As the fifth Parliament concludes its work in the next few weeks, it is pushing ahead by passing essential laws which are in line with the Constitution's values...

20 Mar 2019

Tanzania’s capital, Dar es Salaam. The country is known for its budgetary problems. Shutterstock
Developing countries would benefit from improved tax collection. What can help

The ability to raise revenues from taxes - called "fiscal capacity" - is a crucial aspect for the functioning of any state...

By Roberto Ricciuti & Antonio Savoia 15 Mar 2019

Mark Kingon, acting Sars commissioner
Kingon reappointed as acting Sars commissioner

Finance Minister Tito Mboweni has reappointed Mark Kingon as acting South African Revenue Service (Sars) commmissioner for a further period of 90 days....

14 Mar 2019

National Assembly approves Division of Revenue Bill
National Assembly approves Division of Revenue Bill

The National Assembly has approved the Division of Revenue Bill and the Financial Matters Amendment Bill...

14 Mar 2019

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