Tag: customs and excise

It is unfortunate that President Cyril Ramaphosa did not use his 17 June announcement of modifications to South Africa’s level 3 lockdown as an opportunity to end the ill-considered ban on tobacco and related products. Appropriately, on the same day, Africa Check confirmed that the government is losing around R35 million per day in excise taxes for tobacco products.

In an address presented by President Cyril Ramaphosa on 21 April 2020, he noted that Government has recognised the significant negative repercussions that the national lockdown is having on our economy, both to businesses and to households across the country. The address also highlighted further tax measures to be implemented as additional relief measures.

While SARS confirms that it is not obligatory for South African residents travelling abroad to declare their personal effects when leaving the country, we encourage frequent travellers to do so to avoid any inconvenience or confusion.

Personal Income Tax As many pundits predicted, the Minister of Finance today announced a new 45% tax bracket for individuals which will apply to taxable...

On 11 January 2017, President Zuma signed the following Finance Bills into Law. Taxation Laws Amendment Act The main purpose of the Bill is to amend...

Demand from SARS If you receive a letter of demand from SARS and intend disputing the alleged contravention, then it is advisable to request that...