Monthly Archives: November 2012

VAT 201 Returns – “Business as usual”

Following the implementation of the new Tax Administration Act (TAA) on 1 October, there was widespread concern that VAT 201 returns submitted via eFiling could no longer be submitted on the last business day of the applicable month as was … Continue reading

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Appointment of a “Tax Ombudsman”

Ombudsman (noun); “An official appointed to investigate individuals’ complaints against an organisation, especially a public authority” (Concise Oxford English Dictionary) The Tax Administration Act became effective on October 1 2012. Included in this Act is the appointment of a “Tax … Continue reading

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IFRS for SMEs is here!

The Accounting Practices Board has withdrawn SA GAAP (South African Generally Accepted Accounting Practice) as a basis for preparing annual financial statements for SMEs (Small and Medium-sized Entities). The choices (with two exceptions noted below) for SMEs are either IFRS … Continue reading

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VAT 201 Returns – “Business as usual”

Following the implementation of the new Tax Administration Act (TAA) on 1 October, there was widespread concern that VAT 201 returns submitted via eFiling could no longer be submitted on the last business day of the applicable month as was … Continue reading

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Administration 101: Three things to think about

101.1 Unemployment Insurance Fund (UIF) Increase – Update Your Systems The Minister of Labour announced, via Government Gazette on 26 September, that the UIF threshold had been raised from 1 October 2012. The ceiling amount goes from R149,736 per annum … Continue reading

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IFRS for SMEs is here!

The Accounting Practices Board has withdrawn SA GAAP (South African Generally Accepted Accounting Practice) as a basis for preparing annual financial statements for SMEs (Small and Medium-sized Entities). The choices (with two exceptions noted below) for SMEs are either IFRS … Continue reading

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