Jul 19, 2022 Information Domestic Reverse Charge means that the liability to account for and pay the VAT charged by the supplier on a transaction involving valuable metal will shift from the supplier to the recipient. How does it work? What was changed? View the the answers to Frequently Asked Questions (FAQs) on Domestic Reverse Charge …
Value-Added Tax Act, 1991: FAQs on Domestic Reverse Charges Read More »
Jul 18, 2022 Cargo reporters have historically registered for cargo reporting purposes using the manual (DA8) process. SARS launched a secure online Customs Trader Portal (CTP) to submit registration and licensing applications to Customs through eFiling. Initially, due to anticipated volumes, the use of this channel was restricted to new applications only. For more information …
Onboarding of Cargo Reporters on Registration Licensing and Accreditation (RLA) system Read More »
Jul 18, 2022 SARS’ Registration, Licensing and Accreditation (RLA) team have embarked on an on-boarding process to re-register and re-license existing clients into a new Registration, Licensing and Accreditation (RLA) System. To migrate your existing client types into the new updated RLA system, SARS requires your participation in the on-boarding process. For more information, you …
Onboarding of traders to Registration Licensing and Accreditation (RLA) system Read More »
13 July 2022 To raise public awareness SARS created a section on their website where they post up to date information on any email or SMS scams, they become aware of. Members of the public are randomly emailed with false “spoofed” emails made to look as if these emails were sent from SARS but are …
Information CIPC noted that some public companies filed Financial Accountability Supplements instead of Audited Annual Financial Statements during the period 01 April 2020 to 31 March 2021. This is in contravention of section 33 of the Companies Act and directors of affected companies are thus urged to comply with their AFS filings requirements to avoid …
Information The revised ISA 220 integrates the new quality management concepts in ISQM 1 into the audit processes performed for each engagement. The standard modernizes the approach to quality management and requires the engagement partner and engagement team to be proactive in managing and achieving quality. Specific responsibilities of the engagement partner identified as: Managing …
Revised ISA 220, Quality Management for an audit of financial statements Read More »
4 July 2022 Information CIPC noted a contravention of section 33 of the Companies Act by public companies. Companies which failed to comply filed Financial Accountability Supplements instead of Audited Annual Financial Statements during the period 01 April 2020 to 31 March 2021. Directors of Public Companies are thus urged to comply with their AFS …
Tax returns for Trusts can be filed as follows: Trusts that are not registered for Provisional Tax runs from 1 July 2022 to 23 November 2022; and Trusts that are registered for Provisional Tax starts from 1 July 2022 to 23 January 2023. The following guides were issued: Step-by-Step Guide to complete your Trust return …
Notice issued on 29 June 2022 SARS highlighted changes to the 2022 Tax Filing Season. Filing Season, opening during the first week of July, includes all categories of individual taxpayers, provisional and non-provisional, as well as trusts. A. Auto Assessments will be issued for over 3 million individual non-provisional taxpayers, who will not have to …
With implementation date fast approaching firms should already be in the process of designing their quality management systems. To whom does it applicable? Firms performing any form of assurance engagements or related services engagements, audits or reviews of financial statements will have to implement ISQM 1. The effective implementation date is 15 December 2022. By …
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