Tag: South African Revenue Service (SARS)

The Supreme Court of Appeal (SCA) delivered a judgment on 6 September 2019 that handed SARS, what could be considered, one of their most influential wins in recent times. The SARS Commissioner did not pull any punches and took BMW South Africa to task on tax services performed for their expatriates, by their top tier advisors KPMG and PwC.

Finance Minister Tito Mboweni delivered a macabre Medium-Term Budget Policy Statement (MTBSP) to Parliament on October 30. The MTBPS communicates to government and the people the economic context of the country and fiscal spending priorities over the coming three years. (It does not include detailed spending plans or tax proposals, which are left to the main budget in February.)

The saying goes that we should pay Caesar what he is due and not what he demands. To achieve this in tax planning, estate planners use donations as one of the ways in which to effectively and legally help individuals reduce the taxable values of their estates. Donations of up to R100,000 per year can be used to reduce estate duty.

South Africans are well-known for their participation in stokvel saving schemes where members contribute a fixed monthly amount that is paid out to a specific member on a specified date. Employers can integrate these payments into existing processes to make it safer and more convenient for those members.

Can there be a settlement with SARS if an objection was raised out of time? What are the advantages of reaching a settlement? What are the costs of not resolving a dispute?

For some time now, there has been murmurs of a tax revolt amongst South African taxpayers. For too many reasons to mention, South African taxpayers, sometimes publicly, contemplate the notion of disregarding their tax obligations.

Legal Aspects of Financing Corporates covers the gamut of legal and taxation implications concerning the financing of corporates and will be of great use to postgraduate students in commercial law, corporate advisors, lawyers, in-house counsel, financial institutions and SARS employees.

SARS Commissioner, Edward Kieswetter, has used the South African Institute of Tax Professionals’ Tax Indaba as a platform to fire a shot across the bow, letting taxpayers know that non-compliance will be met with the full force of the National Prosecuting Authority (NPA).

The South African tax season for non-provisional individuals kicks off next month. With the South African Revenue Service (SARS) pushing for the use of its online eFiling service, we are cautioning people to be on the look out for an increase in tax scams.

A taxpayer who disputes a tax assessment has processes available in the Tax Administration Act, 2011 (Act) to contest the assessment. It is sheer folly for a taxpayer who contests an assessment not to avail himself of the mechanisms in the Act timeously.