Source: BEST PRACTICES – COMBATING THE ABUSE OF NON-PROFIT ORGANISATIONS (RECOMMENDATION 8) – 2015 by the FATF South Africa has an established and functioning system, including the establishment of a […]
Corporate Tax
The Value-Added Tax Treatment of Debt Collection
VALUE-ADDED TAX ACT 89 OF 1991DRAFT INTERPRETATION NOTE – 09 SEPTEMBER 2022 for public comment SARS recently published this “Value-Added Tax treatment of debt collection” draft interpretation note for public […]
Withholding Tax on Royalties (WTR)
Documents referred to in this article: WTR01 – return form Withholding Tax on Royalties Declaration (WTRD) Withholding-Tax-on-Royalties-Summary-of-DTA-Rates-Africa Withholding-Tax-on-Royalties-Summary-of-DTA-Rates-Rest-of-the-World This article summarizes the detail of the Withholding Tax on Royalties. The […]
TAXATION OF REIT’s
This article deals with taxation related to REITs – “Real Estate Investment Trust” as defined and dealt with in the Income Tax Act, Section 25BB and will be a series […]
Tax Incentives and their expiry date
Tax incentives are applied to encourage certain behaviours and activities by providing businesses and individuals with favourable tax treatment. The introduction of a tax incentive is generally based on a […]
Turnover Tax
Turnover tax is a simplified system aimed at making it easier for micro business to meet their tax obligations. The turnover tax system replaces Income Tax, VAT, Provisional Tax, Capital […]
Tax returns and the 3-year limitation period of the Tax Administration Act
Legislation:Income Tax Act – ITATax Administration Act (Section 99) – TAA Before the TAA came in to use, the Income Tax Act provided that SARS could only issue an additional […]
Tax Deductions (PAYE) on your Pension or Annuity
The following info is based on commentary from SARS dated 19 January 2022. Where a pensioner has ONE source of income during a tax year, the SARS employees’ tax (PAYE) […]
Export incentives – part 2
This is a follow-up article; please read part 1 too. A recap of the definition and applicable websites are given below: Export incentives are intended to encourage exports by providing […]
Export incentives – part 1
Export incentives are intended to encourage exports by providing financial assistance to exporting companies to enable them to compete effectively in international markets. Whilst they have been widely used internationally, […]