March 9, 2023

6 March 2023 Section 1.1, Paragraph (b) (xii)(bb) of the definition of “retirement annuity fund” in section 1(1) of the Income Tax Act has been amended to allow for transfers between Retirement Annuity Funds (RAF). The effect of the amendment is that the word “total” is deleted, and the following conditions are inserted: However, there is …

Amended definition for “retirement annuity fund” in the ITA Read More »

6 March 2023 SARS invites you to a webinar to engage Small, Micro, and Medium Enterprises (SMMEs) about various domestic and cross-border incentives available to help them grow their businesses. The webinar will also touch on revenue compliance obligations and help Traders understand their responsibilities before the SARS financial year-end. The details of the webinar …

Invitation to a webinar on the SARS Administered Incentives Read More »

8 March 2023 President Cyril Ramaphosa and the Public Officers for Ntaba Nyoni Estate and Ntaba Nyoni Feedlot provided consent to SARS to make a public statement on their Tax Compliance Status. SARS can select individuals for inspection, verification, or audit based on any relevant consideration, including random or risk assessment. The taxpayers were selected …

Public statement on President Ramaposa’s tax compliance Read More »

8 March 2023 The facility codes used in Box 30 on the Customs Clearance Declaration (CCD) were updated with a name change of transit shed P2 in ORTIA from Lonrho Logistics (PTY) Ltd. to PCA Logistics (PTY) Ltd. The Facilities code list is an annexure to the External Policy for the Registration, Licensing, and Designation. …

Updated Facility Codes in the Customs Clearance Declaration Read More »

8 March 2023 The dates when mobile tax units are scheduled to be set up in Limpopo during March and April have been published. The SARS Free State and Northern Cape region has set up several Mobile Tax Office visits and workplace visits to ensure easy access to SARS delivery services and products. This is …

Mobile tax units and educational workshop schedules: Limpopo /Free State /Northern Cape Read More »

3 March 2023 Tax Administration Act, 2011: Publication details for regulation R3118, published in the Government Gazette 48165 of 3 March 2023, are now available. The regulation relates to the rules for purposes of paragraph (a) of the definition of “international tax standard” in section 1 of the Tax Administration Act, 2011 (Act No. 28 of 2011), promulgated …

Updated regulations for financial institutions on reporting CRS Avoidance Arrangements Read More »