Fairly recently changes to provisional tax penalties were made in amendments to the Income Tax Act and the Tax Administration Act. The amendments affect the provisional tax penalties.

Often, we receive questions regarding various aspects of provisional tax. The following article is to serve as a basic guide for future reference when dealing with provisional tax.

The question whether VAT or transfer duty must be levied on a fixed property transaction can be a confusing affair. This article aims to simplify the issue and to summarise different scenarios which a taxpayer might encounter in practise.

The question whether VAT or transfer duty must be levied on a fixed property transaction can be a confusing affair. This article aims to simplify the issue and to summarise different scenarios which a taxpayer might encounter in practise.

Inkomstebelasting is die normale belasting wat op ‘n individu se belasbare inkomste betaal word. As u dalk gedurende die jaar tot die werksmag toegetree het, is u waarskynlik aanspreeklik om ‘n persoonlike belastingopgawe in te dien.

On 24 October 2016, the new Binding General Ruling (BGR) No. 36 relating to the application of section 16(2)(g) of the Value-Added Tax (VAT) Act, was released by the South African Revenue Service (SARS).

Tax payers are often faced with assessments issued by SARS that they do not agree with. This article looks at the steps to follow once an income tax return has been filed with SARS and the options available to you if you are not in agreement with the assessment.

Many times the question arise if a director of a company or a member of a close corporation is liable to submit provisional tax forms (IRP6’s) and pay provisional tax, only by virtue of the fact that he or she is a director or member. According to SARS the following applies.

Companies and close corporations are required to retain business records for a certain period, depending on legislation applicable and the nature of the records.

If your records do not adhere to the requirements of SARS you could face massive penalties, due to SARS doubting the validity of all your other deductions!