Finance Blog

SARS detects a high number of suspicious VAT registrations

SARS detects a high number of suspicious VAT registrations

VAT SARS detects a high number of suspicious VAT registrations SARS has indicated that R381 billion in refunds were paid in the fiscal year 2022/23, of which R319 billion were VAT refunds. With the substantial increase in applications for VAT registrations, SARS has...

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Budget Speech 2022 | How it affects you and your business

Budget Speech 2022 | How it affects you and your business

In his 2022 budget speech, Finance Minister Enoch Godongwana revealed a more positive picture for government’s finances. The South African Revenue Service took in R182 billion more than expected in the past year. These stronger revenues allowed the Minister to...

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Crypto Assets – Part 2

Crypto Assets – Part 2

Article written by: Clyde von Willingh Part 2 article Please contact us for assistance: Tel: +27 (0)21 683 4834 | mdacc@mdacc.co.za | www.mdacc.co.za Clyde von Willingh | Senior Auditor | clyde.vonwillingh@mdacc.co.za...

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Crypto Assets – Part 1

Crypto Assets – Part 1

Article written by: Clyde von Willingh Part 1 article Please contact us for assistance: Tel: +27 (0)21 683 4834 | mdacc@mdacc.co.za | www.mdacc.co.za Clyde von Willingh | Senior Auditor | clyde.vonwillingh@mdacc.co.za...

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Managing your business during these challenging times

Managing your business during these challenging times

MD's email sent out for this post | https://bit.ly/3kwOaMd As we emerge from the challenges of lockdown, we know that one of the largest issues facing business owners is cash flow management. We all need to review our cashflow commitments, revisit our business plans...

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VAT Changes

VAT Changes

Voluntary VAT registration – New requirements for registration A person carrying on an enterprise which has not made R50 000 in taxable supplies is allowed to register for VAT, if there is a reasonable expectation to exceed R50 000 in taxable supplies within the 12...

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To be or not to be? That is the 14% question!

To be or not to be? That is the 14% question!

Article written by:  Fatima Bapukee | Accounting Manager | MD Accountants & Auditors Inc. Pre 2008 you would have had to be registered for VAT if your turnover was over R300 000 per annum. When SARS introduced the increase in the threshold to R1 million, many...

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