Tax

The National Treasury and South African Revenue Service (SARS) issued the 16th annual edition of Tax Statistics on 29 December 2023 in a joint media statement. This isn’t just another set of numbers; it’s a fascinating glimpse into the financial heartbeat of a nation. The comprehensive report released paints a vivid picture of tax revenue …

Shaking up the stats: tax revenue numbers in the South African tax landscape Read More »

Binding Private Rulings 399-403 Private Binding Rulings (PBRs) are formal decisions issued by the South African Revenue Service (SARS) providing guidance on interpreting and applying tax laws. PBRs are legally binding on SARS, the applicant, and any co-applicants involved, providing taxpayers with certainty when planning their tax affairs. PBRs are essential for taxpayers when planning …

Binding Private Rulings issued by SARS – December 2023 Read More »

SARS GENERAL MATTERS Learn how to activate the post-sequestration number for submitting income tax returns. A step-by-step guide is available to assist taxpayers in submitting returns for the period following sequestration. Taxpayers can access this guide by logging into their existing eFiling profiles. SARS has issued a basic guide outlining the requirements for obtaining and …

SARS News Update: Key Highlights November 2023 Read More »

SARS issued an amended external guide on 30 October 2023. What is new? Taxpayers can submit a Request for Remission prior to submission of their annual return. In this scenario, the user must click on the ‘Add Dispute Item’ button and select the applicable source code from the list: The Guide to submitting a dispute …

How to dispute interest and penalty on provisional tax: updated SARS guide Read More »

SARS is proud to share some positive news about its revenue collection efforts following the tabling of the Medium-Term Budget Policy Statement (MTBPS) by Minister of Finance on 1 November 2023 in Parliament. Despite a tough economic environment, SARS is dedicated to serving the nation and supporting the country’s finances. Here are the key highlights: …

Increasing collections and expanding the tax base remain paramount for SARS Read More »

With the end of the 2023 tax season fast approaching, it is crucial to plan your workload to ensure compliance. Make sure that you are aware of the following dates to avoid penalties charged: Find out more about the filing season, visit the SARS website here.

The discussion paper by SARS aims to explain the modernisation of the South African VAT administrative framework. This modernisation will affect all businesses registered or planning to register for VAT. The goal is to adopt real-time or near real-time transmission of VAT data from vendors to the tax authority. SARS invites all stakeholders to submit …

Proposed Changes Regarding VAT Modernisation in South Africa – Discussion paper Read More »

From 15 September 2023 SARS implemented a new system for APT wherein the APT201 returns will now be submitted via eFiling, including the payment thereof. With effect from 15 September 2023, taxpayers will be issued new APT tax numbers, which must be used to register the APT client on eFiling and activate the tax type. It must …

Air Passenger Tax (APT) clients should migrate to efiling Read More »

From 1 June 2023, a flat excise duty rate of R2.90/ml is charged on nicotine and nicotine-substitute solutions in vaping products. The forms DA260 Excise Account for Tobacco Products, in which the vaping products are accounted for excise duty purposes, were also amended accordingly to insert the vaping products. What is it? Tobacco Products, including …

FAQ published relating to licensing and registration requirements of vaping products Read More »

During September 2023, the following customs tariff amendments were Gazetted:   Schedule 1 was amended to: Schedule 3 was amended relating to certain existing rebate items and the creation of rebate provisions on woven fabrics and other fabrics classifiable under certain tariff subheadings. Refer to Notice R.3917. Schedule No. 4 was amended to: Schedule No. …

Customs Tariff Amendment Notices Gazetted in September 2023 Read More »