Monthly Archives: October 2018

Administrative Penalties for Corporate Income Tax (CIT) to be Imposed

SARS will be imposing administrative penalties from December 2018 for outstanding Corporate Income Tax (CIT) returns. Administrative penalties will be imposed on companies that receive a final demand to submit a return. In terms of Section 210 of the Tax … Continue reading

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Get the Most Out of Your Audit While Saving Cost

With careful planning and good implementation, you can help your auditors give you not only a cost-effective audit but one that gives you more assurance that your systems are sound and that your annual financial statements fairly reflect your economic … Continue reading

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Importing From Amazon: You Could Be Forced to Register as an Importer

Forewarned is forearmed” (Wise old proverb) Picture this: Gavin brings in books and DVDs from Amazon (to take just one example – this applies to anything sourced from foreign online retailers like eBay, Alibaba etc). He pays VAT and Customs … Continue reading

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Directors Beware! You Could Be Held Personally Liable For Data Breaches

Hacking into computers has become common place. In the United States it grew by 45% in 2017. Yahoo, one of America’s largest Internet search engines, was recently the victim of cyber crime and disgruntled shareholders are suing the directors for … Continue reading

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Surviving a Business Crisis: Consider Your Turnaround Options

“Turnarounds seldom turn” (Warren Buffett) In the life cycle of any business, it will almost inevitably experience a crisis. This is always a very difficult time and it will be a test of judgment and experience how senior management respond. … Continue reading

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Will the 21st Century Really Be Africa’s Time to Flourish?

“We really need to have a third wave, and it needs to happen in sub-Saharan Africa” (Bill Gates) Two factors often cited as to why “Africa’s time is coming” are: Demographics – the huge populations of India and China are … Continue reading

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