Tax

3 March 2023 Tax Administration Act, 2011: Publication details for regulation R3118, published in the Government Gazette 48165 of 3 March 2023, are now available. The regulation relates to the rules for purposes of paragraph (a) of the definition of “international tax standard” in section 1 of the Tax Administration Act, 2011 (Act No. 28 of 2011), promulgated …

Updated regulations for financial institutions on reporting CRS Avoidance Arrangements Read More »

2 March 2023 SARS is hard at work ensuring that our digital platforms and technology infrastructure are available, robust, and secure by performing regular upgrades, enhancements, and maintenance. Consequently, system upgrades are scheduled for Friday, 03 March from 20:30 until Saturday, 04 March 06:00. During this time various services on eFiling may not be available. …

SARS Notice: eFiling will be unavailable on 3 March 2023 due to upgrades Read More »

February 2023 The Office of the Tax Ombud (OTO) continues to receive many complaints about nonpayment of refunds and delays in finalising disputes lodged. Not all complaints received within these categories are due to the South African Revenue Service (SARS) not adhering to timeframes but rather to a lack of taxpayer awareness of applicable turnaround …

Tax Ombudsman case 22: Delays in Payment of Refunds Read More »

10 February 2023 A survey will be distributed to a selected group of traders. On the Current Surveys, SMSs and emails webpage you can find an extract of the cover letter for confirmation that it’s legit and not a scam. The survey will run from 13 – 28 February 2023. Visit the Current Surveys, SMSs and emails …

SARS Survey issued on Trade Facilitation Indicators Read More »

9 February 2023 The list of approved venture capital companies has been updated with the following changes: To find out more about what are venture capital companies and how to apply visit the SARS website here. You can access the list of approved venture capital companies here.

9 February 2023 Case of Lance Dickson Construction CC v CSARS Relevant Act(s): Tax Administration Act, 2011 Understatement penalty: Whether the Tax Court, having found that SARS had failed to establish that the taxpayer’s understatement of its taxable income resulted from a failure to take reasonable care completing its return, was nonetheless entitled to impose …

WC High Court judgment on penalties charged by SARS Read More »

8 February 2023   CSARS V Coronation Investment Management SA (Pty) Ltd Relevant Acts: Income Tax Act, 1962, and Tax Administration Act, 2011 The judgment deals with section 9D exemptions – whether a ‘controlled foreign company’ is a ‘foreign business establishment’ as defined – Tax Administration Act 28 of 2011 and the respective issue of …

Supreme Court of Appeal Judgment – Controlled Foreign Company and section 9D exemptions Read More »

8 February 2023 The list of the facility codes used in Box 30 on the Customs Clearance Declaration (CCD) has been updated to include the details of the new approved Container Depot in Durban, Afro Persian Shipping (Pty) Ltd. Information and background Durban is one of the busiest ports in Africa, and there are several …

Updated Facility Codes for Customs – Registration, Licensing and Designation Read More »

8 February 2023 This guide will assist you in determining your customs duty implications on imported dutiable goods. It excludes “excisable goods” specified in Part 2 of Schedule 1 imported into or manufactured in South Africa and goods imported through the post and by travelers. Remember: SARS guides do not go into comprehensive technical and …

New Guide on Customs Duty Implication on Imported Goods Read More »