SARS to Clamp Down on Outstanding Tax Returns and Debt

“Pretoria, Thursday, 28 September 2017 – SARS reminds all taxpayers that in accordance with the Tax Administration Act No. 28 of 2011 (TAA) and specifically Section 234 (d), it is a criminal offence not to submit a tax return for any of the tax types they are registered. The tax types are: Personal Income Tax (PIT) […]

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Mid-year recon – August 2017 due to SARS by 31 October 2017

The Bi-annual August 2017 PAYE reconciliation period is from 15 September 2017 – 31 October 2017. – All employers must prepare and submit their declaration (EMP501) and employees’ IRP5’s to SARS reconciling the PAYE/SDL/UIF paid during the period 1 March 2017 to 31 August 2017. Late submission of the EMP501 return AND submission of omitted […]

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Start of 2017 Tax Season – what you need to know to save you time and costs!

1 July was the official start of the 2017 tax season and SARS is encouraging all taxpayers to use SARS e-filing channels to file their tax returns and avoid those never-ending queues at the SARS offices!!! Deadline Dates: Manual 2017 tax return submission (by post/drop off in a SARS drop box) is 22 September 2017; […]

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Last chance to get up to date with your SA Reserve Bank and SARS declarations – are you compliant?

Have you disclosed all your offshore assets to the South African Reserve Bank (SARB)? (disclosing foreign assets on your annual tax return does not mean they have been disclosed to SARB!) The need for this disclosure is required regardless of how you have accumulated the foreign assets and includes the following people: Immigrants or expat […]

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Documents for Public Comments – 2017 Draft Taxation Laws Amendment Bill and Draft Tax Administration Laws Amendment Bill

National Treasury and the South African Revenue Service (SARS) published the 2017 Draft Taxation Laws Amendment Bill (TLAB) and the 2017 Draft Tax Administration Laws Amendment Bill (TALAB) for public comment on 19th July 2017. Watch this space for an update of what’s new and how we can help you to plan your affairs accordingly.

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Employee’s Tax information required for 1st provisional return for 2018 

We are in the process of preparing the first provisional tax returns for the 2018 tax year, due for submission to SARS by 31 August 2017. We would therefore, appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE (Employees tax) paid thus far […]

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Urgent – Resubmission of 2017 Employer Annual Reconciliation Declaration (EMP 501) and Updated IRP5 Certificates

Urgent message from SARS: RE-SUBMISSION OF 2017 EMPLOYER ANNUAL RECONCILIATION DECLARATION (EMP 501) AND IRP5/IT3(a) CERTIFICATES Dear Employer We kindly request your cooperation in the matter described below. BACKGROUND With the implementation of the Retirement Reform requirements, information code 4582 (remuneration portion of income included under income codes: 3701 Travel Allowance, 3702 Re-imbursive Travel Allowance, […]

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Breaking News: SARS released an official statement regarding personal income tax refunds

Taxpayers that are expecting a refund should note that SARS has implemented additional risk processes to ensure both the legitimacy and accuracy of the refunds paid. Accordingly SARS require a little more time in processing and paying the refunds.  

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Intellectual property tax and exchange control reform – the details revealed

Author: Jens Brodbeck and Lavina Daya (ENSafrica) One of the main surprises in the 2017 South African Budget Review was the announcement of what appeared to be a real shift in policy in respect of the tax and exchange control treatment of certain intellectual property (“IP”) arrangements. Following the announcements in the Budget Review on 22 […]

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Urgent Payroll matters to be actioned in April and May 2017

There are a few important payroll related matters to be actioned during April and May 2017:  W.As.8 Return of Earnings 2016 – due to Department of Compensation by 31/05/2017 The 2016 W.As. 8 Return of Earnings for Compensation for Occupational Injuries and Diseases Act (COIDA) submission deadline is 31 May 2017. (This relates to the payroll tax […]

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