The South African Revenue Service (SARS) has announced that it is moving the registration and application process for Income Tax Exempt Institutions to a fully digital system. This development forms part of SARS’s broader strategic objective to simplify taxpayer compliance by leveraging digital platforms.
As a business owner, you may find yourself facing the statutory requirement to have your company’s financial statements independently reviewed. This is no reason for concern, as an independent review can bring numerous benefits such as improving the reliability of your financial reporting and help you stay compliant with legal requirements.
The recent announcement that the deadline for provisional taxpayers has been brought forward to 23 January 2023 is causing confusion. “Some provisional taxpayers have mistaken this to mean that their second provisional tax submission is due sooner this year, but this is incorrect,” says Nicolas Botha, Tax Team Compliance & Processing Manager at Tax Consulting […]
As if the distress of losing a loved one was not enough, the process of winding up their estate immediately following their death can prove overwhelming to a grieving family. But if they cannot promptly produce the legally required information, that critical source of funds may remain frozen much longer than necessary.
Between 70 and 80 percent of South Africans do not have a will to protect their loved ones in the event of their untimely death.
The COVID pandemic has brought a lot of changes in terms of how employees render their services. The theme of employees working remotely has become more prevalent, and there has been a rise in South Africans working for foreign companies while still living in South Africa.
The finalisation of a deceased estate is in itself a time consuming and frustrating process for South Africans. Further complexity and exasperation is caused when one of the heirs is an expatriate.
Reflecting their bearish view on the rand, South African expatriates holding rand-denominated life policies are increasingly opting to convert their policies to the dollar, providing a hedge to the rand while exempting them from domestic estate tax.
The Minister of Finance, Enoch Godongwana, delivered his maiden Budget Speech this afternoon. Discussed below are 10 key highlights from the 2022 Budget Review.
During 2021, many South Africans were forced to start their own businesses to put food on the table, while others changed from traditional employees to contracted remote workers. Whether they retained a reduced salary or wholly embraced the responsibility of being an entrepreneur, it is important for these individuals to understand how the South African […]