Tag Archives: VAT

Bitcoin is Taxable!

SARS has released a media statement on Bitcoin in which it states that people dealing in Bitcoins or other cryptocurrencies are subject to normal Income Tax law in terms of gross income, tax deductions or Capital Gains Tax. SARS are … Continue reading

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VAT Increase and Accounting Systems

As you are aware, the National Treasury announced an increase in Value Added Tax (VAT) from 14% to 15% effective 1 April 2018. We urge you to ensure that your accounting systems are set up to process transactions at the … Continue reading

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The squeeze is on: The medium term budget

“Without economic growth, revenue will not increase. Without revenue growth, expenditure cannot increase” (Finance Minister Nene in his Medium Term Budget Policy Statement (MTBPS), October 2015) These words spoken by Minister Nene neatly capture the predicament the country’s finances are … Continue reading

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