A subsistence allowance is an allowance given to an employee in respect of incidental costs incurred when away from home for at least one night (sunset to sunrise) on company business. Do you also travel for work-related purposes?
Archive for category: Tax Compliance and Administration
Op 16 April 2018 het die Suid-Afrikaanse Inkomstediens (SAID) ŉ nuwe inisiatief aangekondig waar daar voorts saam met die Nasionale Vervolgingsgesag (NVG) gefokus gaan word om belastingbetalers wat versuim om hul opgawes in te dien, te vervolg.
The minister of Finance announced in his budget speech of 21 February 2018 that the standard rate of VAT will increase from the current 14% to 15% with effect from 1 April 2018. As a transaction-based tax, the tentacles of VAT reach into virtually every area and system in a business.
The curtains have come down on section 18B of the Value-Added Tax Act, No. 89 of 1991 (VAT Act). If you are a property developer or have property developers as clients you need to be aware that section 18B of the VAT Act ceased to apply from 1 January 2018.