SARS

August 24, 2015

Why SARS requests supporting documents

Most taxpayers know that sinking feeling when SARS requests supporting documents from them. Which supporting documents must I submit? Am I being audited? Did I make […]
September 18, 2015

Selling of Assets by individuals: When will it attract CGT?

Individuals who are residents for the purpose of the CGT Act (Capital Gains Tax), are liable for CGT on the disposal of South African and foreign […]
June 17, 2016

Transfer of a property: Is vat or transfer duty payable?

A purchaser is responsible for payment of transfer cost when acquiring an immovable property, but it should further be established if the transaction is subject to […]
October 31, 2016

How South African dividends are taxed

Dividends received by a South African taxpayer are generally exempt from income tax. The major exemption though being dividends received from so-called REITs (these being some […]
January 5, 2017

Assets held as security by SARS when a company is being liquidated

The KwaZulu-Natal High Court previously granted an application brought by Van der Merwe and others (acting as liquidators) requiring the Commissioner for the South African Revenue […]
January 25, 2017

SARS releases new ruling on documentary requirements for VAT purposes

In February 2015 the South Atlantic Jazz Festival (Pty) Ltd successfully appealed a judgment of the Tax Court to the Full Bench of the Western Cape […]
March 20, 2017

Apportionment of VAT input claims

Generally speaking, the VAT portion of expenditure incurred by a VAT vendor in carrying on its enterprise may be claimed back from SARS when the VAT […]
July 5, 2018

Is your business legally compliant?

Compliance refers to a company obeying all of the legal laws and regulations regarding how they manage the business, their staff, and their treatment towards their […]
July 6, 2018

Changing banking details with SARS

In order to prevent fraud, the South African Revenue Service (“SARS”) requires confirmation of new or any changes to existing banking details and will only process […]
July 9, 2019

Tax season 2019: Improvements made to eFiling

SARS recently released two media statements, in which it notes several improvements made to eFiling for the 2019 tax season, including the issue of customised notices […]
July 31, 2019

Audit certificates: What you need to know?

The South African Revenue Service (“SARS”) issued Interpretation Note 112 on 21 June 2019 to provide guidance on the interpretation and application of the audit certificate […]
August 28, 2019

What is an audit certificate?

The South African Revenue Service (“SARS”) issued Interpretation Note 112 (“IN112”) on 21 June 2019 to provide guidance on the interpretation and application of the audit […]
November 4, 2019

Farming operations: Tax implications

Farming in South Africa is like second nature to most South Africans, but the tax implications on farming operations seem to raise some questions when determining […]
February 5, 2020

Understanding the Diesel Refund Scheme

Farming is a qualifying activity under the Diesel Refund Scheme. Most farming enterprises will qualify to be registered for the Diesel Refund Scheme. The person carrying on the farming enterprise […]
February 5, 2020

What to do when the taxman comes?

With the tax filing season for individuals now closed, taxpayers may find themselves with tax debt that is due. This may be due to administrative penalties […]
April 15, 2020

Practical Considerations in Claiming SARS COVID-19 Relief

While South Africa is currently in a state of lockdown during which a significant number of businesses have had to cease operations, some relief from a […]
April 15, 2020

The give and take of share transfers

Many business transactions are concluded in terms of section 42 of the Income Tax Act. The section essentially allows a transfer of an asset by a […]
September 1, 2020

Beware of scams during filing season

In late August 2020, a large credit bureau in South Africa was the target of a data breach where millions of private individual and company data records were compromised. This data leakage, coupled with the tax filing season, makes for the perfect opportunity […]
September 1, 2020

Tax assessment errors: What do I do now?

With the 2020 tax filing season in full swing, many taxpayers will likely engage in dispute proceedings as SARS issues their income tax assessments. This will particularly be […]
October 2, 2020

Incomplete VAT returns: A downhill battle

Section 45 of the Value-Added Tax Act makes provision for the payment of interest on delayed VAT refunds. In terms of section 45(1) of the Act, the South African […]
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