Taxation Updates
Collection of Taxation news and updates
Taxation Updates
Draft tax bills are published for public comment
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...
Amendments to tax schedules
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...
Status Of SARS Branch Offices And Contact Center
8 August 2022 Information SARS reports high call volumes and extremely long waiting times. Number of SARS branches are also closed for in person visits but online services are available and taxpayers are encouraged to make use of...
Excise duty charges for all alcohol powder products
5 August 2022 Information The current excise duty regime applies a flat excise rate of 34.7c/kg for traditional African beer powder. From 1 October, however, all alcohol powder products classified as preparations for use in the manufacturing...
Updated Mobile Tax Unit Schedule
29 July 2022 Western Cape Mobile Tax Unit Schedules have been added – you can access the list here. Kwazulu-Natal has published updated Mobile Tax Unit (MTU) schedules: Schedule for August 2022 click here. Schedule for September 2022...
Emigration withdrawal changes
25 July 2022 Information The tax directive system currently includes a validation that rejects tax directive applications, with the ‘Emigration withdrawal’ reason where the date of accrual is on or after 1 March 2022. The tax directive validation...
Legal Counsel Publications – Tables of Interest Rates – Interest-Free Loans
26 July 2022 Information SARS updated the rates at which interest-free or low interest loans are subject to income tax. The rate has been changed from 5.75% to 6.5% from 1 August 2022. You can see the table...
Media update on the ongoing SARS strike
27 July 2022 Information The South African Revenue Service (SARS) issued a media statement on the ongoing strike action. It is stated that SARS remains committed to resolving the ongoing industrial action with organised labour. As communicated earlier,...
SARS Customs – Revised Offences and Penalties Policy
28 July 2022 Information The Offences and Penalties Policy document has been revised to explain how to apply PAJA when a client elects to be dealt with departmentally in terms of Section 91 and the client have supporting documents...
VAT Domestic Reverse Charge transitional measures
29 July 2022 Information The commencement date of the DRC Regulations was 1 July 2022. How do the transitional measures work? A transition period of one month from 1 July 2022 was allowed for affected vendors to ensure...
Changes to Cargo Processing Hours at Selected Ports
29 July 2022 Information Due to SARS wage negotiation dispute notice was issued that cargo processing times will be adjusted from 06:00 to 18:00 at the following ports with effect from 01 August 2022 until further notice. To...
SARS releases the preliminary trade statistics for June 2022
29 July 2022 Information SARS released trade statistics for June 2022 recording a preliminary trade balance surplus of R24.23 billion attributable to exports of R184.61 billion and imports of R160.38 billion. The same surplus recorded in June...
