Tax

SARS will host a virtual Webinar for employers, where the Employer Interim Declarations (EMP 501) Filing Season will be discussed. The following topics will be covered: Submission channels General rules for import file structure Validation rules updates EMP501 reconciliation process Webinar details: Theme:  Employer Interim Reconciliation Declarations Filing SeasonDate: Thursday, 20 October 2022Time: 17:00 – …

SARS Webinar on Employer Interim Reconciliation Declarations Filing Season Read More »

Section 11D of the Income Tax Act Section 11D(1) of the ITA sets out a definition for “research and development” that determines eligibility for the R&D tax incentive. Currently, the wording “scientific or technological” is only found in the title of the section and in one of the paragraphs of the definition, even though the …

SARS proposes refinements to the research and development tax incentive Read More »

CSARS v Airports Company for South Africa (Case no 785/2021) The objection of Airports Company for SA against an additional assessment issued by SARS was rejected. In the objection the taxpayer was seeking clemency based on Uniform rule 28(1) to amend the objection that it had previously lodged. The rule states that: ‘[a]ny party desiring …

Supreme Court of Appeal rejects the taxpayer’s request to amend the objection that it had previously lodged Read More »

5 October 2022 The 2021/2022 guide can now be accessed here.

10 October 2022 If you want to make a virtual booking, you can do it in ANY branch/region. It doesn’t not have to be where you reside. When you have selected a branch under ‘Preferred Branch’ and the system returns a message ‘The selected Province or Branch do not have available appointment slots….‘ then please …

Book your SARS virtual appointment in any branch or region Read More »

If you are a Tax Practitioner registered with SAIBA, you can read our new EMP501 guides: SARS Easyfile: How to Update Two Ways Easyfile SARS Easyfile: ADOBE ISSUES SARS Easyfile: EASYFILE VIEWER SARS Easyfile: How to Download Easyfile How to view the guides: To view the EMP501 Guides visit https://saiba.academy Navigate to: My Dashboard / …

New SAIBA EMP501 Tax Guides Read More »

BPR 379: Effects on the date of issue of a share arising from a change in the redemption features BPR 380: Transfer of shares in resident company to non-resident holding company BPR 381: Beneficial ownership in respect of back-to-back share transfers BPR 382: Rebate in respect of foreign taxes What is a Binding Private Ruling? …

SARS Binding Private Rulings 379-382 issued: Read More »

28 September 2022 Customs and Excise Act 91 of 1964 – classification of Samsung Galaxy S7 smartphone as a ‘telephone for cellular networks’ and not as ; ‘other apparatus for the transmission or reception of voice, images or other data’ for customs duty purposes. You can read the judgment here. (764/2021) [2022] ZACSA 126 (28 …

Supreme Court of Appeal (SCA) judgment – Samsung Electronics SA ( Pty) Ltd v CSARS Read More »

28 September 2022 SARS is increasing its focus on Trusts through modernizing and improving service offerings to simplify compliance. A current state analysis of tax compliance by Trusts shows that a significant number of beneficiaries of Trusts who have received distributions but have not submitted income tax returns. These beneficiaries consist of companies, individuals and …

SARS sharpens its focus on Trusts Read More »

4 October 2022 Amendment to Part 1 of Schedule No. 1 – Additional Note 5(c)(i) is being amended to provide for the usage of grape juice in the manufacture of ciders as prescribed in the Regulations to the Liquor Products Act 60 of 1989. Comments to be recorded on the Customs & Excise Tariff Amendments Comment Sheet