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).
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.
With SARS there is never a dull moment and always something interesting to take note of… the new, the good, the bad and the ugly.
Employees and their relatives who were awarded scholarships and bursaries benefited from a tax exemption since 2006 but this programme became the subject of controversy in 2020.
The capable and qualified team in our tax department add great value whilst assisting our clients with a comprehensive list of tax related services. If you have any queries regarding income tax, VAT, PAYE or any other tax or SARS related matters, feel free to contact us.
A tax invoice is an essential part of the audit trail of a vendor and the failure to issue a tax invoice is a contravention of the Value-Added Tax Act No.89 of 1991 (the VAT Act) and an offence in terms of Administration Act, No 28 of 2011 (the Admin Act). Our article lists the requirements for a valid tax invoice.
Understanding provisional tax estimates and payment rules are important to avoid unnecessary penalties and interest. This article gives a brief overview of some of the basic concepts in this regard, which provisional taxpayers must be aware of.
Avoid administrative penalties and diarize the dates for the filing season.
All employers must please take note of the following very important facts regarding the 2021 Employer Annual Reconciliation (EMP501).
The deadline for financial emigration has come and gone but emigrants can still access and transfer retirement funds offshore if they have been tax non-resident for 3 years. Tax emigration, however, is not a straightforward process and it has implications that you need to consider before making any decision.
