National Treasury and SARS published the 2017 Draft Taxation Laws Amendment Bill (TLAB) and the 2017 Draft Tax Administration Laws Amendment Bill (TALAB) earlier this week. The 2017 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (Rates Bill) was published on Budget Day. This suite of draft bills should give effect to […]
Tag ArchivesSARS
Tax Season 2017 Now Open
Tax Season 2017 officially opened on Saturday, 1 July 2017 for eFilers, and today for branch filers. Taxpayers can now commence completing and submitting their 2017 personal income tax returns for the 2016/17 tax year. (more…)
FPI receives SARS Recognised Controlling Body status
The Financial Planning Institute of Southern Africa (FPI); a South African Qualifications Authority (SAQA) recognised professional body; has recently been approved by the South Africa Revenue Services (SARS), in terms of Section 204A of the Tax Administration Act, as a Recognised Controlling Body (RCB). (more…)
Three steps to choosing the right tax practitioner
While the introduction of E-filing by the South African Revenue Service (SARS) has slightly eased the burden of taxpayers from making mistakes on their annual tax returns, just one error in entering information on your forms could still end up costing you – in the form of a larger tax bill or a smaller refund. […]
SARS to crack down on multinational companies
Medium and large businesses with multinational ties will soon have to start supplying the South African Revenue Service (SARS) with more detailed reports of their relationships and transactions with entities residing in other countries. SARS has beefed up its Transfer Pricing Division and is now actively involved in the international initiative to stop base erosion […]
Sars announces preliminary outcome of revenue collections 2016/17
For the second year in a row, SARS broke the Trillion Rand mark collecting, in gross terms, R1.367 trillion. The preliminary outcome for the 2016/17 financial year, net of refunds of R222.4 billion, is therefore R1.144 trillion. This outcome is fractionally (only R300 000) above the revised estimate as announced in the 2017 Budget. (more…)
SA posts trade surplus in December
By Standard Bank Head of Commercial Banking, Karl Gotte. South Africa posted a trade surplus of R12 bn for December 2016 following November’s revised deficit of R-1.7 bn. The market expectations were for a swing to a surplus. (more…)
Economies make progress in simplifying tax compliance on business
Economies around the world continue to make progress in simplifying and reducing the burden of tax compliance on business, according to the latest edition of Paying Taxes 2017, a report by the World Bank Group and PwC. (more…)
