Taxation Blog

SARS has recently announced new requirements for the mandatory disclosure of Section 18A certificate information to SARS. (IT3(d) certificates for all section 18A donations received). The new IT3(d) certificates come into effect on 1 March 2023 and applies to all...

South African Revenue Service (SARS) has warned taxpayers to be aware of emails or SMSs that ask for personal, tax, banking, and eFiling details indicating that taxpayers are eligible to receive tax refunds. Taxpayers may receive random emails which are made to look...

With the upcoming Budget on 22nd February 2023 and the end of the individual’s tax year looming on 28 February, the following comprehensive year-end tax planning guidance and “tax saving tips” can help you to minimise your tax burden and protect your wealth. Please...

With the upcoming Budget on 22nd February 2023 and the end of the individual’s tax year looming on 28 February, the following comprehensive year-end tax planning guidance and “tax saving tips” can help you to minimise your tax burden and protect your wealth. Please...

With the upcoming Budget on 22nd February 2023 and the end of the individual’s tax year looming on 28 February, the following comprehensive year-end tax planning guidance and “tax saving tips” can help you to minimise your tax burden and protect your wealth. Be sure...

SARS has published updated tables of interest rates. Copy of Table 3 Interest Rate on Fringe Benefit - 02.2023 These tables provide the average interest rates applicable to various tax matters, as follows: Table 1 – Interest rates on outstanding taxes and interest...

We are in the process of preparing the second provisional tax returns for the 2023 tax year, due for submission to SARS by 28 February 2023. We would therefore appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...

https://businesstech.co.za/news/business/647621/sars-has-made-a-big-change-to-help-taxpayers-what-you-need-to-know/

"In a world buffeted by extreme weather events and social upheaval, assessing the performance of corporates has undergone a paradigm shift. No longer are financial ratios the only measure of success, as both customers and investors test companies’ impact on...

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After wide consultation, National Treasury and SARS have made some changes and clarifications to the original proposals on introducing a “two pot” retirement system. On 29 July 2022, the 2022 Draft Revenue Laws Amendment Bill was released for public comment, setting...

SARS has published a tax guide for small businesses. The guide contains information about the tax laws and some other statutory obligations applying to small businesses. It describes some of the forms of business entities in South Africa, namely sole proprietorships,...

As the South African Revenue Service (SARS) has announced that automatic registration will be initiated for Personal Income Tax for an individual that is not registered for tax, but SARS detects 3rd party data that indicates economic activity. The person is...

"The South African Revenue Service’s (SARS) core function is the efficient and effective administration of tax Acts." Click on the image below to read further: Post shared courtesy of: Cliffe Dekker Hofmeyr Written by: Tsanga Mukumba

SARS has published a Guide on Taxation in South Africa in 2022. It is a general guide providing an overview of the most significant tax legislation administered in South Africa by the Commissioner for SARS, including the: Customs and Excise Act; Disaster Management...

The Bi-annual August 2022 PAYE reconciliation period is from 19 September 2022 - 31 October 2022. 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 2022 to 31...

South African Revenue Service (SARS) has warned taxpayers to be aware of emails or SMSs that ask for personal, tax, banking, and eFiling details. Taxpayers may receive random emails which are made to look as if they were sent from SARS but which are fraudulent emails...

We refer to our recent email to you on 22 June 2022 - The Start of 2022 Tax Season - What you need to know to save you time and costs!! As discussed, SARS will again be issuing ‘estimated’ assessments automatically to some taxpayers without the submission of a tax...