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B-BBEE Commission cracks the whip on non-compliance
Auditing and accounting firm SAB&T BEE Services (Pty) Ltd and Shameema Ismail have issued a public apology after the Broad-Based Black Economic Empowerment (B-BBEE) Commission made non-compliance findings against them. "The B-BBEE Commission has issued final...
SARS to collect for Sugar Tax (SBL) from 1 APRIL 2018
PRETORIA, Friday, 15 December 2017 — The South African Revenue Service (SARS) will collect the Sugary Beverages Levy (SBL) as from 1 April 2018. The levy falls under the Rates and Monetary Amounts and Revenue Laws Amendment Bill, 2017, as passed in Parliament on 5...
MoU – B-BBEE Commissioner and CIPC
The B-BBEE Commission and the Companies Commission have signed a memorandum of understanding regarding the sharing of information specifically relating to fronting and unlawful corporate activities. The MoU is in full force and effect with its focus on fronting...
Compliance Reporting to B-BBEE Commission effective April 2018
Explanatory Notice 02 of 2017 and Matrix for submitting B-BBEE Compliance reports in terms of Section 13G of the B-BBEE Act.
We welcome Chadwin Lotters, Cobus Carstens and Emre da Silva who have joined MD in the Accounting and Audit departments!
We are happy to welcome Jade Strang back to MD who has joined us as an Audit Team Leader!
Amended AgriBEE Sector code gazetted
Minister Davies Gazettes the Amended Agri-Bee Sector Code in Terms of Section 9(1) of the Broad Based Black Economic Empowerment Amendment (B-BBEE) Act The Minister of Trade and Industry Dr Rob Davies has gazetted the Amended AgriBEE Sector Code for implementation by...
MD Year End Function 2017 at Little Stream, Constantia
Fitch Ratings affirms South Africa’s ratings, keeps outlook stable
Amended Construction Sector Code
The Construction Sector Council has announced that the DTI has signed off the final Gazette that will be published on Friday 8th December 2017. The Announcement confirms that the Code is substantially the same as the version published for public comments in October...
Amended Financial Services Sector Code to be gazetted
Bid to transform petrol sector
Black ownership still well below government’s proposed 25% Intervention to transform the petroleum retail sector is on the cards‚ Energy Minister David Mahlobo has indicated, with the Department of Energy conducting an audit that will serve as a baseline to inform the...
Congratulations to Fatima Bapukee on passing her exams and completing her PG Dip in Tax!
Santa Shoebox Project 2017
This festive season we again took part in the Santa Shoebox Project, giving back to children who have so little over Christmas. “The Santa Shoebox Project originated in Cape Town in 2006 with a humble 180 shoeboxes. In 10 years it has grown in leaps and bounds, with...
Charles Back of Fairview has been awarded Western Cape farmer of the year 2017
We at MD are immensely proud to be associated with Mr Back, whose impressive winning profile was advertised in last week’s ‘Die Burger’, dated Friday 27 October 2017.
CIPC’s new system becomes mandatory
Submission of Annual Financial Statements to the Companies and Intellectual Property Commission (CIPC) using inLine eXtensible Business Reporting Language (iXBRL) as a standard, will be mandatory as from Sunday, 01 July 2018.
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...
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...
We welcome Lionel Mitchell who joined us a Financial Administrator
We welcome Cecelia Smith who joined us as a Tax Administrator
Petroleum and Liquid Fuels Sector Code
The DTI issued a Proclamation on 13th September to publicise the intention of the Department of Energy and the Petroleum and Liquid Fuels Industry to align the B-BBEE Petroleum and Liquid Fuels Sector Transformation Charter with the B-BBEE Act, the B-BBEE Codes of...
Draft report on transformation proposes that the equity targets in the Financial Sector Charter be made compulsory and possibly incorporated into the Regulations
We welcome Kelly Bok who has joined us as a Secretary / Administrator in our Tax Department!
Companies Act to be amended
This was announced by the Acting Deputy Director General for Consumer and Corporate Regulations at the dti, Mr MacDonald Netshitenzhe who said that this was result of the company law reform aimed at instilling corporate accountability, transparency and reduction of...
SECTION 7C – IS YOUR TRUST AFFECTED BY THE NEW TAX LEGISLATION?
We have identified a risk that relates to any loan, advance or credit made to a trust, by a natural person or a company that is a connected person to the trust where interest is not charged, or interest is charged at a lower rate than the official rate (currently...