April 3, 2023

March 31, 2023 Two tariff amendment notices were published, R3234 and R3235, related to the Customs and Excise Act, 1964, in Government Gazettes 48344 and 48345.  Notice R3234 brings an amendment is being made to Part 2 of Schedule No. 4, which deals with customs and excise tariffs. The amendment involves the substitution of a …

Customs tariff and rule amendment notices Read More »

31 March 2023   South Africa’s preliminary trade balance surplus for February 2023 is R16.1 billion, with R154.3 billion in exports and R138.2 billion in imports.   However, the year-to-date trade balance deficit for January and February 2023 is R6.6 billion, compared to a R17.1 billion surplus for the same period last year.   In …

Trade Statistics for February 2023 Read More »

CSARS v Grand Azania (Pty) Limited   SARS launched a liquidation application against Grand Azania in July 2021 based on section 344 of the Companies Act. This section provides that a company may be wound up if it cannot pay its debts. SARS launched a liquidation application claiming that Grand Azania owes SARS and cannot …

High Court Judgments on whether a company should be wound up, depreciation allowance, finance charges and understatement penalty Read More »

25 March 2023   Tax Administration Act, 2011, and Employment Tax Incentive Act, 2013.   1.  IT45935 Regarding the Procedure – determining good cause in the interest of justice and whether good cause was established not to grant the appellant the default judgment it sought.   Procedure: Interlocutory application – whether statement delivered by the …

Tax Court Judgments Read More »

30 March 2023   The Draft Guide   Draft guide to the Employment Tax Incentive (Issue 5) and Interpretation Note are published for comment.   The draft Guide includes the amendments to the definition of “employee”, “monthly remuneration” and section 6 (qualifying employees) introduced by the Taxation Laws Amendment Act 20 of 2021.  These amendments …

Comment on draft Guide and Interpretation Note on ETI Read More »

30 March 2023   New guides issues in terms of Customs and Excise Act, 1964 (the Act):   You can read the guide here.

29 March 2023   Returns of information to be submitted by third parties in terms of section 26 of the Tax Administration Act. The Notice lists the persons required to submit third party returns and description of what returns need to be submitted.   You can find the notice here.

24 March 2023   The PAYE Employer Reconciliation BRS for the 2024 tax year was updated with the validation rules for the Directive Information fields have been amended.   You can read the guide here.