SARS have announced a new Tax Compliance Status System. This process will need to be followed when applying for tax clearance certificates. Taxpayers will also be able to give 3rd parties a PIN to allow them to verify a taxpayer’s tax compliance status online.   Although this system should be quicker and easier for taxpayers to obtain tax clearance, it is important to note that all returns will have to be up to date and all taxes will need to be paid timeoulsy in order for clearance to be issued. Taxpayers should therefore make this a priority to ensure they can obtain the necessary...

A very informative half-day seminar presented by Deloitte to Alumni. This included updates and recap on IFRS. Regulatory updates on the National Credit Act and Companies Act as well as Tax update from the Deloitte School of Tax – Instilling Tax Technical Skills. It was interesting to note from the regulatory update on the National Credit Act is that to be classified as a “credit provider” is when there is a deferral of payment and there is a cost attached to that deferral eg. Interest. Furthermore, if you are a credit provider and you do not follow the 5 steps to provide credit, then your loan...

View the Personal Income Tax Rate Adjustments Income Tax information Feb 29

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