Tag: personal liability
SARS preying on personal liability – constitutionality confirmed!
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
Tax compliance and criminality – SARS and IDAC clamp down
South African Revenue Service (SARS) and the Investigating Directorate Against Corruption (IDAC) have joined forces. Their collaboration targets financial crimes, including tax-related offences. This partnership aims to bolster efforts to make tax non-compliance both difficult and costly.
New Companies Act requirements
During Parliamentary debates on amendments to the Companies Act in 2023, it was noted that the biggest opposition to the amendments related to the disclosure of remuneration. With the President signing the Companies Amendment Act on the 26th of July 2024, debates on the new remuneration requirements will resurface.
