Eszter Rapanos, Author at CIBA Academy

The declaration of Crypto assets as a financial product – What does this mean?

On 19 October 2022, the crypto asset were declared as a financial product under the Financial Advisory and Intermediary Services Act, 2002 (“the Act”). In effect this means that: Any person furnishing advice or rendering intermediary services in relation to crypto assets must be authorised under the FAIS Act as a financial services provider (FSP); …

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IAASB Factsheet on Quality Management and Group Audits

Assurance / By Eszter Rapanos

15 December 2022 The International Auditing and Assurance Standards Board (IAASB) has published a new fact sheet on the interactions between International Standard on Audit (ISA) 220 (Revised), which addresses quality management at the engagement level, and ISA 600 on group audits. The aspects highlighted the Factsheet are: · Revised Definition Of Engagement Team; and …

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IRBA Disciplinary Hearings for February 2023

Assurance / By Eszter Rapanos

13 January 2023 The following hearings are scheduled for February 2023: 1. IRBA // LA 14-15 February, 09h30-16h00 Overview of charges: Respondent failed to assemble audit documentation in the audit file following an audit engagement of a Retirement Estate Body Corporate (Body Corporate). In particular, the Respondent failed to include documentation regarding verification of legal …

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Personal Income Tax Administrative Penalty notifications

Tax / By Eszter Rapanos

10 January 2023 If you have received a Personal Income Tax Administrative Penalty notification, this was issued due to the late or non-submission of one or more Income Tax Returns. What should you do next? Regardless of whether you agree or disagree with the admin penalty it is advisable to submit the outstanding return to …

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E-SERVICES AND BIZPORTAL: QUICK REFERENCE GUIDE – ANNUAL RETURNS

Accounting / By Eszter Rapanos

To address queries relating to filing Annual Returns (AR) general response is provided on the following topics in the Quick Reference Guide: How to file and general questions on AR Validation Errors AR not moving to cart or slow response on payment module Known challenges on annual returns which is pending correction in the next …

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CIPC Notices: System challenges with eservices and BizPortal platforms

Accounting / By Eszter Rapanos

13 January 2023 Since the migration of the transacting platforms on Monday, 9 January 2023 the CIPC has worked on challenges with the implementation of the system. The following issues have been resolved: User Login Error Login Validation Errors System Performance Improvement Disclosure Documents not sent to Customers/Incorrect document Duplicate name reservations Dispatch of certificates …

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ENACTMENT OF KEY ANTI-MONEY LAUNDERING AND COMBATING OF TERROR FINANCING LAWS

Law / By Eszter Rapanos

6 January 2023 President Cyril Ramaphosa has recently signed into law two key Acts of Parliament, namely the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, 2022 (“General Laws Amendment Act”) and the Protection of Constitutional Democracy Against Terrorism and Related Activities Amendment Act, 2022 (“POCDATARA Amendment Act”). This is a significant step …

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New Interpretation Note on Skills development levy exemption: Public benefit organisations

Tax / By Eszter Rapanos

12 December 2022 This Note provides guidance on the interpretation and application of section 4(c) of the SDL Act, which exempts any PBO contemplated in section 10(1)(cN) from the payment of SDL, provided the PBO: solely carries on qualifying Public Benefit Activities or solely provides funds to PBOs that solely carry-on qualifying Public Benefit Activities. …

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Customs and Excise Tariff Amendments

Tax / By Eszter Rapanos

26 December 2022 Part 1 of Schedule No. 1, increase the rate of customs duty on combined refrigerator-freezers, fitted with separate external doors from 25% to 30% and excluding those with a total capacity not exceeding 400li. For more details read the amendments here.

latest SARS scam

Tax / By Eszter Rapanos

26 December 2022 The latest scam appears to be a SMS from SARS, indicating a payment to be received from SARS via Pay Fast. Please don’t click on any links and report any suspicious correspondence from SARS to phishing@sars.gov.za. You can see an example of the scam here.

Eszter Rapanos

The declaration of Crypto assets as a financial product – What does this mean?

IAASB Factsheet on Quality Management and Group Audits

IRBA Disciplinary Hearings for February 2023

Personal Income Tax Administrative Penalty notifications

E-SERVICES AND BIZPORTAL: QUICK REFERENCE GUIDE – ANNUAL RETURNS

CIPC Notices: System challenges with eservices and BizPortal platforms

ENACTMENT OF KEY ANTI-MONEY LAUNDERING AND COMBATING OF TERROR FINANCING LAWS

New Interpretation Note on Skills development levy exemption: Public benefit organisations

Customs and Excise Tariff Amendments

latest SARS scam

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