Maintain Archives - CIBA Academy

Solar Energy Tax Credit can be deducted for Provisional Tax

The Provisional Tax Return (IRP6) has been updated with a “Solar energy tax credit” field to enable provisional taxpayers to consider the tax credit in determining provisional tax payable for the second provisional period of the 2024 year of assessment. Consequently, taxpayers can now consider the solar energy tax credit when calculating the second-period provisional …

Solar Energy Tax Credit can be deducted for Provisional Tax Read More »

How to avoid or remedy suspension of customs registration

Maintain, Tax / By Eszter Rapanos

During September 2023, CIBA received many complaints from members whose clients have received suspension notices from SARS. The issue follows on from 26 August 2022 when SARS issued a Letter to Trade stating that all Customs and Excise registrants and licensees must update or confirm their current registration information by completing and submitting the electronic …

How to avoid or remedy suspension of customs registration Read More »

Custom System Enhancements for the Southern African Customs Union (SACU) and Mozambique (SACUM) and the United Kingdom(UK) (SACUM-UK) Economic Partnership Agreement (EPA)

Maintain / By Eszter Rapanos

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 …

Custom System Enhancements for the Southern African Customs Union (SACU) and Mozambique (SACUM) and the United Kingdom(UK) (SACUM-UK) Economic Partnership Agreement (EPA) Read More »

Interpretation Note 101 Income Tax Act, Section 24I: Gains or Losses on Foreign Exchange Transactions

Maintain / By Eszter Rapanos

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 …

Interpretation Note 101 Income Tax Act, Section 24I: Gains or Losses on Foreign Exchange Transactions Read More »

IESBA Issued proposed Revisions to the IESBA Code addressing Tax Services

Ethics, Maintain / By Ilana de Jager

CIBA has adopted the IESBA’s ethics Handbook of the International Code of Ethics for Professional Accountants. IESBA issued an Exposure Draft on proposed Revisions to the IESBA Code Addressing Tax Planning and Related Services for comments due by 18 May 2023. CIBA members can submit their comments directly to IESBA, or submit them to technical@saiba.org.za before …

IESBA Issued proposed Revisions to the IESBA Code addressing Tax Services Read More »

Enhanced VAT264 declaration form for the supply of secondhand goods

Maintain / By Eszter Rapanos

30 March 2023 The VAT264 form has been modernised to make it easier and simpler for vendors to complete. It has also been updated to align with the recent VAT amendment contained in the Taxation Laws Amendment Act, 2022. See the new form here.

travel logbook guide 2023_24

Maintain, Tax / By Eszter Rapanos

16 March 2023 The Travel Logbook Guide includes information for the 2023-24 financial year relating to the travel claims. Guidance includes the following topics: You can access the SARS guide for Travel logbook 2023-24 guide here.

Tax Directives trade testing – April 2023: Additional Passport Country Codes

Maintain, Tax / By Eszter Rapanos

3 March 2023 Interface specification version 6.503 trade testing dates and software implementation Directives April 2023 for Additional Passport Country Codes SARS will introduce enhancements to the Tax Directives process. The trade testing dates are still to be confirmed, and the implementation of the software is planned for the first quarter of the 2023/2024 financial …

Tax Directives trade testing – April 2023: Additional Passport Country Codes Read More »

IFAC Small and Medium Size Practices podcast on Cybersecurity, communication, Talent and Innovation

Accounting, Maintain / By Ilana de Jager

IFAC released another podcast in their series about small and medium sized practices adapting to the rapidly changing global economy. The podcasts features a conversation with Hamish Mexted, Founder and Director of Convex Accounting. IFAC spoke to Hamish about his experience with a range of pressing topics for SMPs, including: Read more and listen to …

IFAC Small and Medium Size Practices podcast on Cybersecurity, communication, Talent and Innovation Read More »

Reminder: deadline to submit 2022 IT returns for provisional taxpayers

Maintain, Tax / By Eszter Rapanos

20 January 2023 Provisional taxpayers have until 23 January 2023 to submit their annual income tax return. All outstanding tax returns need to be filed before 23 January to avoid administrative penalties. Late filing will attract administrative penalties. Who is a provisional taxpayer? Any person who receives income or to whom income accrues other than …

Reminder: deadline to submit 2022 IT returns for provisional taxpayers Read More »

Maintain

Solar Energy Tax Credit can be deducted for Provisional Tax

How to avoid or remedy suspension of customs registration

Custom System Enhancements for the Southern African Customs Union (SACU) and Mozambique (SACUM) and the United Kingdom(UK) (SACUM-UK) Economic Partnership Agreement (EPA)

Interpretation Note 101 Income Tax Act, Section 24I: Gains or Losses on Foreign Exchange Transactions

IESBA Issued proposed Revisions to the IESBA Code addressing Tax Services

Enhanced VAT264 declaration form for the supply of secondhand goods

travel logbook guide 2023_24

Tax Directives trade testing – April 2023: Additional Passport Country Codes

IFAC Small and Medium Size Practices podcast on Cybersecurity, communication, Talent and Innovation

Reminder: deadline to submit 2022 IT returns for provisional taxpayers

welcome.

The only thing that interferes with my learning is my education. - Albert Einstein

Log In to Your SAIBA Account!