28 August 2022 SARS Customs officers at the OR Tambo Airport, intercepted pelleted cargo that was destined for Australia. The consignment of Multi-Purpose Anti-Slip Mats was found to be have been used to conceal Crystal meth weighing 785 kg with the street value of R236 million. You can read the complete article here.
18 August 2022 Income tax guides Basic guide to section 18A approval (Issue 4. You can find the guide here. Guide to building allowances (Issue 2). You can find the guide here. Interpretation Notes Interpretation Note 122 – Public benefit activity: Bid to host or hosting of any international event Interpretation Note 75 (Issue 4) …
Legal council guides, interpretation notes and rulings issued Read More »
19 August 2022 Tariff amendment notice R2384, as Gazetted reducing the rate of customs duty for sugar is available here.
19 August 2022 Applicable Acts: Income Tax Act, 1962, and Tax Administration Act, 2011 In terms of the Income Tax Act, General Deduction Formula the judgement included whether the finance charges levied in respect of the loans of Propsky and RMB constituted interest for the purposes of section 24J and whether the understatement penalty was …
Legal Counsel – Dispute Resolution & Judgments – Tax Court Case No. IT 25042 Read More »
SARS Tax Practitioner Readiness Programme Tax Practitioners who register after 1 July are required to successfully complete the Tax Practitioner Readiness Programme and assessment. Prospective tax practitioner can either: Access the material on the SARS website and SARS YouTube TV Channel as self-learning or Can register for the live session of 30 August You …
12 August 2022 SARS issued Draft Rules and Schedule Amendment for comments: Insertion of rules under sections 64F, 75 and 120 – Drawbacks and refunds DA 63 – Application for refund – Export for trade purposes of imported duty paid goods (Refund item 522.03) DA 64 – Application for drawback/refund DA 66 – General Application for drawback/refund Draft amendment …
Customs & Excise Act, 1964:Â Draft rules and schedule amendments published for comment Read More »
12 August 2022 SARS welcomes the suspension of the industrial action by two recognized labour unions, PSA and NEHAWU. The PSA was the first officially to suspend the industrial action from 20 July 2022, followed by NEHAWU on 08 August 2022. Considering this announcement by the two unions, striking employees are back at work and …
13 August 2022 You can now request a Notice of Assessment and Statement of Accounts, request the registration, verify tax compliance status amongst others via the SARS Online Query System (SOQS). You can simply complete the form with the applicable mandatory information pertaining to the selected query. This may include information such as: Taxpayer Demographics …
29 July 2022 Information The National Treasury and the South African Revenue Service (SARS) published, for public comment, the following 2022 draft Bills: Rates and Monetary Amounts and Amendment of Revenue Laws Bill (2022 draft Rates Bill), first published on 25 February 2022, dealing with changes to the rates and monetary thresholds to the personal …
Draft tax bills are published for public comment Read More »
Information The following amendments were made to tax schedules to give effect to the budget proposals by the Minister of Finance on 23 February 2022: Amendment to Part 1 of Schedule No. 1, by the insertion of Additional Notes in Chapters 19 and 21 as well as new subheadings to provide for preparations for making …
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