Tax

24 June 2022 Information The Commissioner issued a public notice requiring registered vendor or representative vendor to update its VAT registration when they are deal in the supply of valuable metals that are subject to domestic reverse charge. The registration details of such vendors should be updated within 21 business days from — (a) the …

Value-added Tax Act: Domestic reverse charge relating to valuable metals Read More »

Customs and Excise Act, 1964 Amendment of Rules Implementation date: 24 June 2022 SARS Notice R 2188 identifies who may sell new motor vehicles free of duty to persons entitled to diplomatic immunities or privileges Information The following persons may now sell new motor vehicles free of duty to persons entitled to diplomatic immunities or …

Amendment of Rules: Selling duty free motor vehicles to diplomats Read More »

3 June 2022 Notice: The notice provides definitions of individual who must and those who are not required submit an income tax return for the 2022 financial year. Deadlines for submission of income tax returns were published. Information: Final dates to submit income tax returns: (a) companies, within 12 months from the date on which …

SARS Release submission dates 2022 Income Tax Returns Read More »

New Tax Practitioner registration criteria effective 1 June 2022 A RCB may register an individual as a tax practitioner on or after 1 June 2022, if the individual poses a qualification: NQF level 6 and above with at least one accounting module and one tax module, plus at least 1 year’s tax working experience, NQF …

Amended criteria for Recognised Controlling Bodies relating to the registration and management of their tax practitioner members Read More »

Notice On 23 March 2022 a new document, SARS Preferential Procurement Policy, has been published. Find it Here Information and Implications The policy has been Developed to enable SARS to comply with section 217 (2) and (3) of the Constitution that makes it incumbent on organs of state to apply a system of preferential procurement and …

SARS published the new Preferential Procurement Policy on 23 March 2022 Read More »

Notice The Customs External Policy Document regarding registration, licensing and designation effective from 1 October 2021 was updated. Find the guide Here. Information and Implications The facility codes used in Box 30 on the Customs Clearance Declaration (CCD) have been updated to include the licensing of a new container depot in Cape Town. Implications if the …

Customs Registration Licensing Document was updated on 19 April 2022 Read More »

Notice On 19 April 2022 SARS issued an anti-fraud leaflet. Find it Here. Information and Implications Guidance is provided on how to protect taxpayers’ eFiling profiles, for instance: Taxpayers to activate the One-Time-Pin (OTP) security feature on their eFiling profile Taxpayers to log-off completely after accessing their eFiling profile, etc. This is important for the accountant …

SARS issued anti-fraud leaflet to raise awareness on how to protect taxpayers eFiling profiles Read More »

Notice Employers are required to submit their Employer Reconciliation (EMP501) by 31 May 2022 Information and Implications It is advised to file the EMP501 well in advance, to allow time to resolve queries, should the South African Revenue Service (SARS) reject the EMP501 after the submission date.  The effect of this is that the EMP501 …

Reminder of Employer Reconciliation Declarations due 31 May 2021 Read More »

Notice The guide to Complete Tax Directive Application Forms was updated with certain legislation changes. Information and Implications Legislative changes to the Tax Directives process have been implemented by SARS. The following information is important for Fund Administrators, Insurers, Tax Practitioners, Advisors and taxpayers:1.) Taxpayers who are members of a pension preservation or provident preservation …

Tax Directives legislative changes implemented from 25 April 2022 Read More »