The ANC on Monday denied that it owes the taxman more than R100m. In a statement‚ the ruling party dismissed as false a report by the Daily Maverick that it had been given 10 days by the SA Revenue Service to settle the bill. The report…
South Africa could be sitting on a tax revenue gold mine if it started taxing the sale of recreational cannabis, says Ettiene Retief, chairman of the National Tax Committee at the South African Institute of Professional Accountants…
Later today, finance minister Tito Mboweni will announce the 2021/2022 budget and pundits are speculating on what the minister will do to rebalance the books. The cost of the global pandemic has hit every country hard but the developing…
A new set of tax law amendments, signed by President Cyril Ramaphosa, and promulgated on January 20 2021 has granted SARS all the legal fire power it needs to impose criminal sanctions on taxpayers who neglect their tax affairs. Criminal…
Taxpayers have paid more than R85m in salaries to suspended employees who are sitting at home waiting for their cases to be concluded. A whopping R74m of the amount was spent by provincial governments, while national departments spent…
Many companies are considering or are in the process of retrenching workers due to the economic woes of the country that is being exacerbated by the imposed lockdown to curb the spread of the Covid-19 disease. A critical part of…
On Tuesday May 5, SARS Commissioner Edward Kieswetter detailed improvements in the tax authority’s operations and its proactive response to COVID-19. However, he painted a gloomy picture of national revenues. “It’s sadly ironic that SARS…
Following announcement of the actions taken by government to combat the COVID-19 crisis, many South Africans may be aware of the proposed tax measures that are effective from April 1 2020. There is, however, an additional fiscal measure…
Government ignored warnings that foreign employment tax would lead to mass increase in financial emigration In December 2017, the change to the foreign employment income exemption was promulgated into law. This has widely become known as…
As the country waits with bated breath for finance minister Tito Mboweni’s budget speech‚ social media users have sparked a debate‚ talking all things expectations. Mboweni is expected to present the budget speech for 2020/21 in…
The best way to nail public officials who have looted public funds and aided state capture with impunity was to use the tax system. This was instead of merely the using the criminal justice system‚ which took forever to bite. This is the…
South African Revenue Services (Sars) officials once again swooped on power couple Shauwn and S’bu Mpisane’s plush mansion in the leafy suburb of La Lucia on Friday. This in a bid to attach some of their assets in an ongoing dispute over…
South Africa will reach the fiscal cliff by 2042 if it does not change its ways and back up the budget speech with concrete actions, says Professor Jannie Rossouw, the head of School of Economics and Business Sciences at Wits Business…
