SARS issued an amended external guide on 30 October 2023. What is new? Taxpayers can submit a Request for Remission prior to submission of their annual return. In this scenario, the user must click on the ‘Add Dispute Item’ button and select the applicable source code from the list: The Guide to submitting a dispute …
How to dispute interest and penalty on provisional tax: updated SARS guide Read More »
SARS is proud to share some positive news about its revenue collection efforts following the tabling of the Medium-Term Budget Policy Statement (MTBPS) by Minister of Finance on 1 November 2023 in Parliament. Despite a tough economic environment, SARS is dedicated to serving the nation and supporting the country’s finances. Here are the key highlights: …
Increasing collections and expanding the tax base remain paramount for SARS Read More »
CIPC Notice 53 On 19 September 2023, the CIPC announced that starting from 1 October, there will be heightened enforcement on beneficial ownership reporting. Background Mandatory filings for beneficial ownership and securities/beneficial interest registers were introduced on 24 May 2023. Action required If your entity hasn’t submitted the beneficial ownership details yet, it’s time to …
With the end of the 2023 tax season fast approaching, it is crucial to plan your workload to ensure compliance. Make sure that you are aware of the following dates to avoid penalties charged: Find out more about the filing season, visit the SARS website here.
The FIC issued a Notice of final demand on 25 August 2023, reminding registered accountable institutions to submit their risk and compliance returns (RCR). Entities under Directive 6 that have not yet submitted returns are currently non-compliant and at risk of sanctions as per section 62E of the FIC Act. This FIC notice serves as …
The discussion paper by SARS aims to explain the modernisation of the South African VAT administrative framework. This modernisation will affect all businesses registered or planning to register for VAT. The goal is to adopt real-time or near real-time transmission of VAT data from vendors to the tax authority. SARS invites all stakeholders to submit …
Proposed Changes Regarding VAT Modernisation in South Africa – Discussion paper Read More »
From 15 September 2023 SARS implemented a new system for APT wherein the APT201 returns will now be submitted via eFiling, including the payment thereof. With effect from 15 September 2023, taxpayers will be issued new APT tax numbers, which must be used to register the APT client on eFiling and activate the tax type. It must …
Air Passenger Tax (APT) clients should migrate to efiling Read More »
From 1 June 2023, a flat excise duty rate of R2.90/ml is charged on nicotine and nicotine-substitute solutions in vaping products. The forms DA260 Excise Account for Tobacco Products, in which the vaping products are accounted for excise duty purposes, were also amended accordingly to insert the vaping products. What is it? Tobacco Products, including …
FAQ published relating to licensing and registration requirements of vaping products Read More »
During September 2023, the following customs tariff amendments were Gazetted: Schedule 1 was amended to: Schedule 3 was amended relating to certain existing rebate items and the creation of rebate provisions on woven fabrics and other fabrics classifiable under certain tariff subheadings. Refer to Notice R.3917. Schedule No. 4 was amended to: Schedule No. …
Customs Tariff Amendment Notices Gazetted in September 2023 Read More »
From 1 October, foodstuff manufacturers can register online and receive an excise diesel refund. The excise diesel refund for food manufacturers scheme is a tax relief measure aimed at addressing the load-shedding problem and limiting the impact of power cuts on food prices. the country is facing. A diesel refund, limited to 80% of the …
Online registration is now open for the Excise diesel refund for Foodstuff Manufacturers Read More »
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