Tag: non-compliance

South Africa takes on the presidency of the Group of 20 (G20) in 2025 with six headline priorities. These include debt sustainability for low-income countries, mobilising finance for a just energy transition, food security, disaster resilience and digital infrastructure. Among these, payment reform is the one that businesses in the country will feel most directly.

The law entitles charged employees to a fair and sufficient opportunity to prepare for the disciplinary hearing. They must also be allowed to testify on their own behalf, bring corroborative evidence and cross-examine the employer’s witnesses. In addition, employees have the right to use an interpreter, receive representation and have an impartial chairperson preside over the matter.

Thousands of South Africans who have traded or invested in crypto assets may soon face severe penalties. The South African Revenue Service (SARS) has started issuing letters to individuals suspected of undeclared crypto gains. Experts warn that those who fail to act now risk not only hefty fines but also potential criminal prosecution.

Since the South African Revenue Service (SARS) introduced the Crypto Revenue Augmentation Unit, many taxpayers who have traded, invested in or used crypto assets for purchases have received Audit and Request for Relevant Material Notices.

The Constitutional Court judgement in Greyvensteyn vs Commissioner for SARS and Others has been welcomed by South African Revenue Service (SARS)! Serving to reaffirm the constitutionality of SARS holding individuals personally liable for company debts, the Greyvensteyn judgement emphasises this point. It also supports SARS pursuing recovery from those persons. The judgement highlights the importance of tax revenue collection

We are urging all young entrepreneurs to secure their businesses’ long-term success by ensuring their full tax compliance by February 28, 2025.

In recent months, SABS has faced growing scrutiny. Allegations of maladministration and mismanagement have led to a comprehensive investigation by the Department of Trade, Industry and Competition (DTIC).

ZAR 475 million, ZAR 210 million, and ZAR 59 million are not lottery jackpots. Instead, these represent the significant administrative penalties imposed recently. During 2024, the Financial Sector Conduct Authority (FSCA) and Prudential Authority (PA)(together, the Regulators) imposed these penalties on various entities.

Communal property associations reform aims to address longstanding governance challenges and enhance the effective management of community-owned land. The Restitution of Land Rights Act 22 of 1994 allowed individuals and communities to claim rights to dispossessed land. This dispossession occurred due to past racially discriminatory laws or practices.

Legislative frameworks for artificial intelligence (AI) highlights the critical need for regulations to ensure ethical and responsible AI development. AI adoption has increased significantly in recent years. In 2018, companies using AI allocated only 5% of their digital budgets to it.