Where a company vehicle is provided by an employer to an employee, the employee must be taxed on a monthly basis on the use of the company vehicle, as it is deemed to be a fringe benefit for private purpose. This article explains the payroll tax consequences for an employee when a company vehicle is provided by the employer for private travel purposes.
Payroll tax implications relating to the acquisition of a company car by an employee, as well as travel allowances, can be a tricky business. Great care should be taken by employers to correctly account for these items, when they process payrolls.
The 2017 Draft Taxation Laws Amendment Bill and the 2017 Draft Tax Administration Laws Amendment Bill have been published by the National Treasury and the South African Revenue Service (SARS) on 19 July 2017. An important change is proposed for South African residents working abroad.
Die Suid-Afrikaanse Inkomstediens (SAID) het onlangs skrywes uitgestuur waar daar gewaarsku word dat sommige werknemers se 2017 IRP5’e en/of IT3(a)’s moontlik foute mag bevat wat ʼn potensiële impak op hul finale belasting betaalbaar mag hê.
SARS has published the annual public notice noting persons who are required to submit an income tax return for the 2017 year of assessment.
Beware – Getting your valid Employment Tax Incentive (ETI) refunds are not a walk in the park.
FHBC (Wellington) (Pty) Ltd now offers tax services in Namibia through its sister company FHBC Consultants (Namibia) (Pty) Ltd. The Namibian Ministry of Finance have recently introduced an arrear tax recovery incentive programme effective from 1 February 2017 to 31 July 2017. FHBC can assist Namibian taxpayers to partake in the incentive programme.
Import VAT’s timing rules changed more than 3 years ago. There are however still VAT Vendors not claiming the import VAT in the correct period. This article provides a quick recap regarding the applicable new requirements.
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.
