Eszter Rapanos, Author at CIBA Academy

Database of Public Interest Entity (PIE) definitions issued for different countries

The definitions issued by the IESBA can assist regulators, national standard setters, and other relevant bodies in developing or revising their definitions of PIE at the local level based on the IESBA’s PIE definition. This database covers 78 jurisdictions in the Americas, Europe, Africa, Asia, and Oceania. The PIE revisions become effective for audits of …

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Sustainability assurance standards ISSA 5000 consultation is brought forward

Assurance / By Eszter Rapanos

In a publication on 24 April 2023, the International Auditing and Assurance Standards Board (IAASB) confirmed that the consultation on its proposed new standard for sustainability assurance would be brought forward. The draft standards, International Standard on Sustainability Assurance (ISSA) 5000, are planned to be released in August 2023. Following the consultation, the standards are …

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Urgent call for Accountants to register as accountable institutions with the FIC

Law / By Eszter Rapanos

Certain accountants were obligated to register with the FIC by 20 March 2023 as per the Financial Intelligence Centre Act (FIC Act). The amended Schedule 1 of the FIC Act, which came into effect from 19 December 2022, included a new category called Trust and Company Service Providers (TCSP). TCSPs includes accountants and other service …

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Tax Court Jurisdiction to Hear Application to Reinstate Appeal

Tax / By Eszter Rapanos

SARSTC VAT 1518 (VAT) [2023] ZATC JHB In the Tax Court case VAT 1518 published on 21 April 2023, the applicant (taxpayer) was seeking permission to reinstate Income Tax and VAT appeals there were initially filed but later withdrawn by the applicant, leading to the additional assessments of SARS becoming final. The respondent (SARS) opposed …

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Proposed changes for renewable energy tax incentives

Tax / By Eszter Rapanos

On 21 April 2023, National Treasury and SARS published draft legal amendments relating to the new two new renewable tax incentives announced in the 2023 Budget. 1. Solar Energy Tax Credit The proposed changes are aimed at encouraging households to invest in clean electricity generation capacity to supplement the electricity supply and reduce pressure on …

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The CIPC Increases Call Centre Hours for a Limited Period (Mondays to Thursdays only)

Accounting / By Eszter Rapanos

On 20 April 2023, CIPC issued Notice 25 stating that as there is an influx of calls due to the deregistration of several enterprises, the call center will operate from 07h30 in the mornings until 17h00 in the afternoons from Mondays to Thursdays for a limited period. You can read Notice 25 here.

CIPC issued legal opinion on whether companies can hold virtual Annual General Meetings (AGMs)

Accounting / By Eszter Rapanos

On 20 April 2023 CIPC issued a non-binding legal opinion on the interpretation and implication of Section 61(7) and (10) of the Companies Act, 2008, specifically on the holding of AGM’s by listed companies via electronic means. The focus was on whether listed companies can hold AGMs via electronic means and still be considered in …

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SARS issued March 2023 Government Connect addressing current Matters

Tax / By Eszter Rapanos

SARS issued the latest Government Connect providing more information and guidance relating to the following topics: Read the March 2023 Government Connect here.

New Exception on VAT Registration requirements for Foreign Suppliers

Tax / By Eszter Rapanos

Effective from 5 January 2023, Section 23(1A) of the VAT Act was amended to ease the administrative burden for a foreign supplier of electronic services and a foreign intermediary (an intermediary who is not a resident of the Republic), by introducing an exception when calculating the R1 million threshold. This exception applies where the said value of …

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Why is box 30 of the CCD important?

Tax / By Eszter Rapanos

Box 30 on the Customs Clearance Declaration (CCD) indicates the specific customs facility or location where the goods will be released or delivered. The facility codes used in Box 30 of the CCD in RSA are three-digit codes assigned to specific customs facilities or locations in South Africa. Facility codes are used to identify the …

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Eszter Rapanos

Database of Public Interest Entity (PIE) definitions issued for different countries

Sustainability assurance standards ISSA 5000 consultation is brought forward

Urgent call for Accountants to register as accountable institutions with the FIC

Tax Court Jurisdiction to Hear Application to Reinstate Appeal

Proposed changes for renewable energy tax incentives

The CIPC Increases Call Centre Hours for a Limited Period (Mondays to Thursdays only)

CIPC issued legal opinion on whether companies can hold virtual Annual General Meetings (AGMs)

SARS issued March 2023 Government Connect addressing current Matters

New Exception on VAT Registration requirements for Foreign Suppliers

Why is box 30 of the CCD important?

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