Eszter Rapanos, Author at CIBA Academy

Draft regulations for reporting on beneficial ownership information

The Companies and Intellectual Property Commission (CIPC), on behalf of the Department of Trade, Industry, and Competition, has invited interested parties to submit written comments on the draft regulations of the Companies Act 71 of 2008, as amended. The General Laws (Anti-Money Laundering and Combating of Terrorism Financing) Amendment Act, 2022 (Act No. 22 of …

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COIDA: Maximum earning updated for returns of earnings

Law / By Eszter Rapanos

10 March 2023 The Department of Employment and Labour issued Notice 1617 of 2023 relating to the Compensation for Occupational Injuries and Diseases Act. Maximum earnings per employee per annum on which an assessment of an employer is calculated was increased to R563 520 (1 March 2023 to 28 February 2024). The submission of return …

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Seven key takeaways from the IFRS Sustainability Symposium

Accounting / By Eszter Rapanos

6 March 2023 The International Sustainability Standards Board (ISSB) held a symposium on 17 February, attended by over 1,000 people from 45 countries. Seven key takeaways emerged from the event. You can read the full article on the IFRS website here.

IASB developed an improved approach to help create accounting standards

Accounting / By Eszter Rapanos

8 March 2023 The International Accounting Standards Board (IASB) published Guidance for developing and drafting disclosure requirements in IFRS Accounting Standards (Guidance). The new approach aims to help the IASB create accounting standards that provide more useful information to investors. The Guidance sets out an approach that involves: The IASB intends to use this Guidance when developing …

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Comment on proposed amendments to customs and excise schedules and forms

Tax / By Eszter Rapanos

10 March 2023 The diesel refund system was implemented in 2000 to provide full or partial relief for the general fuel levy and the Road Accident Fund (RAF) levy to primary sectors. The refund system is in place for the farming, forestry, fishing and mining sectors. In light of the current electricity crisis, a similar …

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Updated Average Exchange Rates

Tax / By Eszter Rapanos

8 March 2023 The Income Tax Act provides specifically that certain amounts expressed in a foreign currency must be translated into rand by the application of an applicable average exchange rate. The South African Reserve Bank (SARB) determines weighted average exchange rates, based on the foreign exchange transactions of commercial banks. SARS publishes these rates on a quarterly …

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Beware of the latest scam

Tax / By Eszter Rapanos

10 March 2023 Beware of the latest email scam saying that a letter of demand which requires your attention has been issued and telling you to click on the link to open the letter. Please ignore and don’t click on any links. If in doubt, please send an email to phishing@sars.gov.za. See an example of the …

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Become an Authorised Economic Operator (AEO) and enjoy the benefits

Tax / By Eszter Rapanos

10 March 2023 An Authorised Economic Operator (AEO) is a company involved in the international movement of goods and approved by SARS Customs as complying with the World Customs Organisation or equivalent compliance and supply chain security standards. AEOs may include manufacturers, importers, exporters, brokers, carriers, consolidators, intermediaries, ports, airports, terminal operators, integrated operators, warehouses, …

Become an Authorised Economic Operator (AEO) and enjoy the benefits Read More »

NPOs need to get compliant ahead of the planned de-registration campaign

Law / By Eszter Rapanos

10 March 2023 The Department of Social Development discussed plans to de-register non-compliant NPOs with key stakeholders in a meeting held on 9 March. The de-registration process will start as soon as 1 April, following a phased-in approach. In 2022 out of the 256,212 registered NPOs, over 58% were found to be non-compliant. The vast …

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IAASB issued its latest Market Scan on Digital Assets

Accounting / By Eszter Rapanos

6 March 2023 A digital asset is anything that exists in digital form only, has or provides value, is identifiable and discoverable, and is associated with ownership or use rights. Digital assets can be cryptocurrencies like Bitcoin and Ethereum, or non-fungible tokens (NFTs), as well as digital content like photos, audio files, videos, websites, presentations, spreadsheets, or text …

IAASB issued its latest Market Scan on Digital Assets Read More »

Eszter Rapanos

Draft regulations for reporting on beneficial ownership information

COIDA: Maximum earning updated for returns of earnings

Seven key takeaways from the IFRS Sustainability Symposium

IASB developed an improved approach to help create accounting standards

Comment on proposed amendments to customs and excise schedules and forms

Updated Average Exchange Rates

Beware of the latest scam

Become an Authorised Economic Operator (AEO) and enjoy the benefits

NPOs need to get compliant ahead of the planned de-registration campaign

IAASB issued its latest Market Scan on Digital Assets

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