The South African Revenue Services (SARS) will start issuing auto-assessments from 1 August. In May, SARS commissioner Kieswetter indicated that a significant number of taxpayers will receive auto-assessments and given an opportunity to confirm their acceptance of the assessment outcome according to SARS. In an emailed response, a SARS spokesperson said that these auto-assessments were […]
What is PAYE?Employees’ Tax refers to the tax required to be deducted by an employer from an employee’s remuneration paid or payable. The process of deducting or withholding tax from remuneration as it is earned by an employee is commonly referred to as PAYE. An employer who is registered or required to register with SARS for PAYE […]
What is a VAT refund?A VAT refund is an amount of VAT that is payable by SARS to a vendor, where the total amount of input tax exceeds the total amount of output tax in a particular tax period, or a vendor has paid an amount of VAT, in excess of the amount that should […]
As COVID-19 has spread throughout the world, our ways of living and working have changed drastically — often in a matter of days or even hours. In this kind of environment, a month can feel like an eternity. But for small and midsized enterprises, a month goes by in a flash. The average company with […]
Purpose This Note provides guidance and clarity on the interpretation and application of section 9I which deals with headquarter companies. The Note also briefly discusses other provisions of the Act that provide special tax relief for headquarter companies, as well as the specific anti-avoidance rules that are designed to prevent misuse or abuse of those […]
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Author: Gerhard Badenhorst. The stated policy of the South African Revenue Service (SARS) not to make value-added tax (VAT) apportionment rulings effective retrospectively to prior financial years has been questioned on several occasions. The matter was recently considered by the Tax Court in the case of Taxpayer v Commissioner for the South African Revenue Service (VAT2063) [2019] […]
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Tax clearance certificates and tax compliance status: Changes on the tax and exchange control fronts
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December 16, 2019 Nyasha Musviba Author: Louis Botha. Recently, the South African Revenue Service (SARS) announced that it would no longer be issuing printed tax clearance certificates (TCCs). The announcement was not unexpected as SARS had already indicated in 2015 when the tax compliance status (TCS) system was implemented, that it would cease issuing printed TCCs […]