When you do not have the appropriate / valid documentation at the time of completing a VAT201 return you may not, according to the VAT Act, claim the input tax in that specific tax period.

Die vergoedende reistoelaag verwys na ‘n terugbetaling wat deur werknemers ontvang word wat vir amptelike doeleindes namens die werkgewer gereis het. Die toepassing van die vergoedende reistoelaag het vanaf 1 Maart 2018 verander.

There has been recent confusion about customs requirements for travellers when it comes to personal valuables – what form, what must be declared and why?

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.

Provisional tax estimates, payments, deadlines, penalties and interest may be somewhat confusing for the tax-paying public. This article attempts to explain these concepts in layman terms.

Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. Our article addresses the questions on how to treat Bitcoin in terms of the income Tax Act and VAT.

Do payments on loan account constitute payment for purposes of the VAT Act? This question was recently considered by the Tax Court. We thus refer to applicable case law.

The IT14SD is a supplementary declaration in which a company must reconcile Income Tax, Value-Added Tax (VAT), Pay-As-You-Earn (PAYE) and Customs declarations. In essence, it is meant to reconcile companies’ and CC’s accounting reporting to their tax reporting. SARS can request a detailed explanation for a reconciliation difference.