Tag: Gigi Nyanin
SARS continues to GRAP(ple) with ensuring legislative compliance
In April 2012, the Accounting Standards Board approved the adoption of Generally Recognised Accounting Practice (GRAP) Standards to replace the Modified Cash Basis of Accounting (MCB) in the public sector. For over a decade, despite South African Revenue Service (SARS) noting its intention ‘to expedite the migration of SARS’ revenue accounting practices to [GRAP] to ensure legislative compliance’, there still has been no implementation. Or has there been?
PODCAST | Take note, SARS will now start issuing estimated assessments
An interview with Gigi Nyanin, Project Director, Tax Publications and Thought leadership, South African Institute of Chartered Accountants (SAICA), and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing the auto assessments that the South African Revenue Service (SARS) introduced in August 2020 which provided them with the ability to file income tax returns on behalf of taxpayers.
Take note, SARS will now start issuing estimated assessments
In August 2020, the South African Revenue Service (SARS) introduced auto assessments which provided them with the ability to file income tax returns on behalf of taxpayers. These auto assessments are populated from a taxpayer’s information which is collected from third parties such as financial institutions, employers, and medical aid schemes.
