On 21 July 2023 SARS issued an external guide to assist traders with the application and completion of the AEO sufficient knowledge competency assessment. An Authorised Economic Operator (AEO) is a company involved in the international movement of goods and approved by SARS Customs as complying with World Customs Organisation or equivalent compliance and supply chain security …
Draft Interpretation Note 78 was published on 21 July 2023 providing guidance on the interpretation and application of section 24C when income is received in advance while the expenditure under the contract will only be incurred in a subsequent year of assessment. Section 24C caters for situations which often arises in the construction industry and sometimes …
SARS issued various notices regarding scam alerts. Examples of these scams you need to be aware of can be found on the SARS ‘scams and phishing’ website here. The website lists the following scams noted during June and July 2023:SARS-SCAM-344 – Stop order – 21 July 2023SARS-SCAM-343 – SMS online payment – 12 July 2023SARS-SCAM-342 …
Be aware of the latest SARS Scams and Phishing alerts – Examples on SARS website Read More »
Until December 31, 2020, goods exported from Southern African Customs Union (SACU) member states (Botswana, Lesotho, Namibia, South Africa, and Swaziland) and Mozambique to the United Kingdom (UK) were covered by an agreement called the Southern African Development Community-European Union Economic Partnership Agreement (SADC-EU EPA). From January 1, 2021, these goods are now traded under …
SARS issued IN 106 on 14 July 2023 providing guidance on the interpretation and application of section 13sex of the Income Tax Act. 13sex provides that a taxpayer may deduct an allowance of 5% of the cost to the taxpayer of any new and unused residential unit, or any new or unused improvement to a …
SARS issued IN 101 on 12 July 2023 providing guidance on the interpretation and application of section 24I of the Income Tax Act. Section 24I governs the income tax treatment of foreign exchange gains and losses on exchange items as well as premiums or like consideration received or paid in respect of a foreign currency …
From 4 July 2023 Personal Income Tax taxpayers who qualify for this year’s Filing Season 2023 auto-assessment can now check whether they have been auto-assessed via the SARS Online Query Service functionality. Information you need to have: To access the function, click here.
On 10 July 2023 SARS introduced an Online Query System has a new feature called the Tax Return Status Dashboard providing Taxpayers, Registered Representatives and Tax Practitioners with a visual status of the progress of Personal Income Tax returns in terms of submission, verification/audit, and refund processing. You are now able to check the progress of your …
New Feature on the SARS Online Query System: Tax Return Status Dashboard Read More »
IN 6 was issued by SARS on 30 June 2023 providing guidance on the interpretation and application of the term “place of effective management” in determining the tax residence of a company. A person other than a natural person is a “resident” as defined in section 1(1) if such person – The term “place of …
. On 30 June 2023 SARS issued a General Notice requiring that the persons specified in the Schedule attached to the Notice must submit returns for 2023 and following years by the dates specified. The Notice provides: Declarations in respect of third party returns must be submitted electronically using the designated SARS electronic filing service. …
How to earn a designation
Jobs you can do with a designation
SAIBA membership only
Business Accountant (SA)
Certified Business Accountant (SA)
Certified Financial Officer (SA)
Business Accountant in Practice (SA)
Annual Practice Licence
Annual Ethics Licence
Tax practitioner
Independent review
Business Rescue
Immigration
IFRS
IFRS for SME
Audit working papers
Non-profit entities
Virtual CFO
COVID-19 SA Portal
Officially recognised
International mobility
Employability
Newsletter
Networking
Rewarding Ethics
Financial statement preparation
Accounting software
Professional development
Practice support
Practice support library
Advisory and audit services
Risk Mitigation
Franchising
Practice marketing
Practice management software
Client onboarding
