Tag Archives: Tax

Sugar Tax: Is It Good For Us?

“This feels like a victory for Britain’s children” (celebrity chef Jamie Oliver commenting on news that a sugary drinks levy will be introduced in the UK in 2018)  Tax increases are on the way and Treasury has signalled that a … Continue reading

Posted in Tax | Tagged , , | Comments Off on Sugar Tax: Is It Good For Us?

How Efficient is SARS Globally?

A recent World Bank and Price Waterhouse Coopers survey, amongst other things, ranks companies in 190 countries in terms of time taken to prepare and file tax returns. South Africa performs above average against its global peers. We improved by … Continue reading

Posted in Tax | Tagged , , | Comments Off on How Efficient is SARS Globally?

What’s Behind the SARS Inquiry?

The Minister of Finance has announced that the President has agreed to an independent inquiry chaired by a judge to probe why SARS is missing its revenue targets – this year it is forecast to miss budgeted tax collections by … Continue reading

Posted in Tax | Tagged , , | Comments Off on What’s Behind the SARS Inquiry?

Groundhog Day with SARS for Deceased Estates: Expect Delays

“A situation in which a series of unwelcome or tedious events appear to be recurring in exactly the same way” (Oxford English Dictionary definition of “Groundhog Day”) Recent changes to legislation have made it more frustrating and time-consuming to wind … Continue reading

Posted in Tax | Tagged , , | Comments Off on Groundhog Day with SARS for Deceased Estates: Expect Delays

Your Tax Deadlines for November and “Watch Out, SARS is On The Warpath!”

Non-provisional taxpayers using eFiling or electronically submitting from a SARS office need to file their 2016/2017 Income Tax Returns on or by 24 November. Secondly, tax compliance levels are slipping and SARS is planning to aggressively counteract this, noting that … Continue reading

Posted in Tax | Tagged , , | Comments Off on Your Tax Deadlines for November and “Watch Out, SARS is On The Warpath!”

The Latest on the SVDP

Access to the Special Voluntary Disclosure Program (SVDP) closed at the end of August 2017 and the government netted a little over R1 billion. There were two thousand applications for this amnesty. Whilst this is not the final amount as … Continue reading

Posted in Tax | Tagged , , | Comments Off on The Latest on the SVDP

Tax on Offshore Income – A Change in Plan

SARS recently issued a draft Tax Bill which proposed taxing South African residents the difference in taxation on offshore income earned. Thus, if 10% tax was paid on overseas income then the taxpayer was liable to pay what would have … Continue reading

Posted in Tax | Tagged , , | Comments Off on Tax on Offshore Income – A Change in Plan

The Special Voluntary Disclosure Programme Begins – What’s Changed?

We recently discussed the Special VDP which lets non-compliant taxpayers voluntarily disclose offshore assets and income in order to regularise both their tax and exchange control affairs. As promised, here is an update for you on current changes to the … Continue reading

Posted in Tax | Tagged , , | Comments Off on The Special Voluntary Disclosure Programme Begins – What’s Changed?

Are You Struggling to Get Your Tax Refund?

There is a feeling that taxpayers are getting fed up over the amount of tax they have to pay. Add to this the adverse publicity SARS has received as one of the focal points of the current political struggles and … Continue reading

Posted in Tax | Tagged , , | Comments Off on Are You Struggling to Get Your Tax Refund?

SARS’ Plans to Tax Income Earned Abroad

As the law currently stands, if a South African tax resident works abroad for 183 days or more (of which 60 days must run consecutively) in a year, that person is not taxed locally on foreign based earnings. Treasury has … Continue reading

Posted in Tax | Tagged , , | Comments Off on SARS’ Plans to Tax Income Earned Abroad