Tax

20 January 2023 Amendment to Part 1 of Schedule No. 3 inserting rebate item 306.04/3206.11/01.06 to provide for a rebate facility on titanium dioxide for use in the manufacture of paints, varnishes as well as prepared driers classifiable in tariff headings 32.08, 32.09, 32.10 and 32.11. The amendment also provides for the deletion of the …

Tariff amendment: New rebate item for titanium dioxide Read More »

20 January 2023 This BGR sets out the further requirements that the creditor must obtain to deduct input tax in instances in which a debtor makes a deemed supply to the creditor (not being a taxable supply) of goods repossessed or surrendered under section 8(10). The ruling includes the requirements for relating to the debtor …

Binding General Ruling 63: deemed supplies for goods repossessed or surrendered Read More »

25 January 2023 Wording for surveys, emails and SMSs to confirm that it’s legit and not a scam can be found here. Latest scam: ‘Your office Return has yet to be filed’ Beware of the latest SMS scam saying taxpayers’ office return is yet to be filed and telling people to click on a link. …

Real or scam? Samples of current SARS Surveys, SMSs and Emails and latest scams Read More »

27 January 2023   Updated to SARS Tables of Interest Rates are as follows: Table 1 – Interest rates on outstanding taxes and interest rates payable on certain refunds of tax was changed from to 9.75% to 10.5% effective from 1 March 2023. Table 2 – Interest rates payable on credit amounts was changed from 5.75% …

Legal Counsel Publications – Changes to the Tables of Interest Rates Read More »

27 January 2023 This guide enhances the understanding of the payment of the customs duty and VAT treatment of goods forwarded free as a donation. Many organisations are increasingly dependent on donor assistance from abroad for the upliftment of indigent people. However, import value-added tax (VAT) and customs duty may be leviable on goods that …

New Guide: Customs Duty and VAT Treatment of Goods Forwarded Free as a Donation Read More »

20 January 2022 To make it easy for taxpayers and traders to fulfill their obligations whilst ensuring that our digital platforms are safe and secure, SARS will conduct regular maintenance and enhancements to improve the experience. Planned maintenance period between 18:00 to 22:00, Friday 20 January 2023, during which time you may experience intermittent service …

Planned Efiling Maintenance on 20 January 18:00-22:00 Read More »

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 …

Personal Income Tax Administrative Penalty notifications Read More »

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. …

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

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.