Living and working overseas does not automatically change your liability to pay taxes in South Africa. It is important to understand the when and how of tax emigration, to make the best decision for your situation.
Category: Tax Compliance and Administration
BE WARNED – WATCH YOUR E-FILE PROFILE LIKE A HAWK
Please take note: eFile profiles of tax practitioners and / or taxpayers are disappearing and /or banking details are changed without their consent.
NAMIBIA LATEST NEWS: MODIFIED ELECTRONIC FILING TAX RELIEF PROGRAMME AND LIFTING THE MORATORIUM ON THE PAYMENT OF TAX REFUNDS – PROVISIONAL TAXPAYERS
Tax Relief Programme commenced on 1 June 2022 until 31 May 2023. Our article lists the requirements to see if you qualify for the programme. NamRA lifted the moratorium on provisional taxpayers, why have you still not received your refund?
2022 filing season for individuals now open
SARS filing season is upon us: it is time to do your tax return. SARS has made significant changes to the 2022 Tax Filling Season. This year, over 3 million taxpayers, have been auto assessed by SARS. Our article contains some questions and answers to provide you with guidance regarding the auto-assessment process.
THE DIFFERENCE BETWEEN CURRENT TAX AND DEFERRED TAX
An integral part of our economic lives is the accounting for and paying of income taxes. In terms of the International Financial Reporting Standards for Small and Medium Sized entities (IFRS for SMEs), income tax comprises current tax liabilities (or assets) and deferred tax liabilities (or assets). What is the difference…?
REVISED SARS SERVICE CHARTER
The South African Revenue Service (SARS) recently issued a revised 2022 Service Charter. In it important rights and obligations of taxpayers are provided, as well as service level standards of SARS.
WHAT TO KNOW ABOUT THE TAX ADMINISTRATION BURDEN AFTER THE DEATH OF YOUR LOVED ONE
When a loved one passes away, it is important for family members to know that SARS is involved in the process of finalizing an estate. The Executor of the estate can only finalize the matter when SARS is satisfied that all the tax affairs of the deceased, pre- and post-death, are up to date.
REPORTABLE ARRANGEMENTS
It is important for taxpayers and tax practitioners alike, to be aware of reportable arrangements and the corresponding responsibilities that must be complied with by participants in a reportable arrangement, for purposes of avoiding unnecessary penalties.
EXEMPTION FROM INCOME TAX: FOREIGN EMPLOYMENT INCOME
Are you a South African tax resident earning foreign employment income? Then this article will give you some clarity on the section 10(1)(o)(ii) exemption and claiming of your foreign tax credit under section 6quat(1A) read with section 6quat(1B)(a).
THE INFORMATION A TAX INVOICE MUST CONTAIN BEFORE A VAT INPUT TAX DEDUCTION MAY BE CLAIMED
Registered VAT vendors still frequently claim VAT input tax deductions without being in possession of a valid tax invoice. This exposes the VAT vendor to various tax related risks.