Tag: financial statements

In today’s fast-paced and complex governance environment, the traditional annual board work plan remains a useful tool. The traditional annual board work plan structures routine responsibilities, such as scheduling board evaluations, reviewing policies, and approving annual financial statements and budgets. However, the board work plan’s largely static nature often fails to capture the fluid realities of modern governance.

We are pleased to announce that the Financial Sector Conduct Authority (FSCA) has approved our amendments to the listings requirements dealing with market segmentation which come into effective on 23 September 2024.

With 2024 being the first year that trust taxpayers are tasked with submitting third party IT3(t) returns to South African Revenue Service (SARS) by 30 September 2024, this change of the filing season could potentially offer a silver lining for trust taxpayers, granting them additional time to prepare for their 2024 tax return filing along with the added compliance measures that come with the submission.

It has been a standout year for the Group. Prosus simplified its Group structure, delivered improvements across all core performance metrics and achieved Ecommerce profitability six months ahead of target. Operating businesses have performed well, accelerating profitable growth, while the open-ended buyback programme continues to deliver value for our shareholders every day. The rapid deployment of AI-led technologies across the Prosus ecosystem is generating real results and will set the next frontier of value creation for the Group. Prosus has a strong balance sheet and is well positioned to generate improved returns through smart and disciplined capital allocation, driving value for all stakeholders.

It has been a standout year for the Group. Naspers simplified its Group structure, delivered improvements across all core performance metrics and achieved Ecommerce profitability six months ahead of target. Operating businesses have performed well, accelerating profitable growth, while the open-ended buyback programme continues to deliver value for our shareholders every day. The rapid deployment of AI-led technologies across the Naspers ecosystem is generating real results and will set the next frontier of value creation for the Group. Naspers has a strong balance sheet and is well positioned to generate improved returns through smart and disciplined capital allocation, driving value for all stakeholders. 

The Gauteng High Court recently dismissed the appeal of Unitrans Holdings (Unitrans) against the Tax Court judgment which had denied a tax deduction for interest incurred. The court found that the interest incurred was not closely connected to Unitrans’ business operations as an investment holding company and that the purpose of the interest was not to produce income but to further the interests of the subsidiaries.

Accessing the right funding and financing, at the right time, can mean the difference between starting up, staying open, or shutting down. The economy is facing a challenging business environment, with slow global growth, economic volatility, and ongoing power supply issues. This means that many businesses in South Africa are still trying to find their financial footing

Within the world of sectional title schemes, disputes can arise from various challenges tied to communal living and shared property ownership. From embracing clear communication to enforcing established rules and ensuring transparent financial management, our aim is to provide you with the knowledge and tools needed to effectively prevent disputes and cultivate a harmonious living environment within your scheme.

The accounting profession may be at a crossroads, but perhaps the choice of direction is one that can reshape the future and its reputation. The challenge facing the accounting profession is nuanced. On one hand, the profession is attracting fewer people and struggling to retain those are in it.

The draft tax law amendment published in August and targeting foreign employers has inadvertently led to an uproar amongst South African remote workers who fear the law change may disincentivise foreign employers from retaining the services of South African talent.