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COVID-19 relief may complicate provisional tax for some

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The first period for provisional tax ends on 31st August. Provisional taxpayers must therefore have submitted their initial IRP6 return and settled any payments due by that date. In addition, COVID-19 relief allowances make the calculation of estimated tax all the more complicated and I advise those who wish to take advantage of this relief to act promptly to beat the deadline.

Treasury’s Special Budget is up against significant challenges

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On Wednesday, 24 June, Minister Mboweni will table a Special Adjustment Budget. This is an extraordinary event, precipitated by the effect of the COVID-19 outbreak that has caused so many deaths and ravaged great parts of the economy.

COVID-19 second phase economic response: Tax Relief

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National Treasury has published another draft bill to formalise the tax relief measures available in response to the devastating covid-19 pandemic. It is hoped this will clarify uncertainty and offer some relief during these tough times.

COVID-19 tax interventions

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Employee quarantines, reduced demand, disrupted operations and restricted movements are just a few of the challenges faced by business during the Covid-19 pandemic.

Tax measures to combat the COVID-19 pandemic

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Further to the fiscal package as outlined by President Cyril Ramaphosa in his speech on the Escalation of Measures to Combat COVID-19, the Minister of Finance has announced on 29 March 2020 certain exceptional tax measures to be implemented.

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