Reference Acts, documents and websites Patents Act, 1978 (Act 57 of 1978) Register patents, maintain data, publish patent journal, administer Court of Commissioner of PatentsTrade Marks Act, 1993 (Act 194 […]
Terminology
The Financial Sector Conduct Authority’s proposal to make crypto assets a financial product
Reference documents: Press Release – Draft Declaration of Crypto Assets as a Financial Product by the FSCA, dated 20 November 2020Statement in support of the Draft Declaration of Crypto Assets […]
Diesel Refund System
Reference documents/sites: Customs and Excise Act No. 91 of 1964Value-Added Tax Act, No. 89 of 1991Diesel Rebate Forms VAT101D and VAT102Dwww.sars.gov.za In this article, we will discuss the basics of […]
Submission of production, costing and trade statistics to Statistics South Africa (STATSSA)
Reference documents: Act No. 25 of 1986 Statistics Amendment Act, 1986 This article focuses on the submission of statistics and the use thereof by STATSSA. Businesses and persons may not […]
Wilful conduct (misconduct) for tax related offences – proposed amendments as per 2020 Draft Taxation Laws Amendment Bill (Draft TLAB) and the 2020 Draft Tax Administration Laws Amendment Bill (Draft TALAB)
Reference documents: Income Tax Act, 1962, as amended, paragraph 30 of Fourth ScheduleTax Administration Act, 2011, section 234(p)Section 58 of the Value Added Tax Act, 1991 The days of using […]
IFRS and IFRS 3 – Business Combinations
IFRS is short for International Financial Reporting Standards. IFRS originated in the European Union, with the intention of making business affairs and accounts accessible across the continent. IFRS is the […]
Sections 225 and 360 of the NOCLAR provisions – Obligations for Professional Accountants
This article is a follow-on from a previous NOCLAR article published on 21 September 2020. A professional accountant (PA) in public practice may come across or be made aware of […]
Non-compliance with laws and regulations – NOCLAR
In 2017, the International Ethics Standards Board for Accountants (IESBA) updated the rule that dictates how accountants can respond to a client’s non-compliance with laws and regulations (NOCLAR). For the […]
The similarities and differences between non-profit (NPO) and for-profit organisations and the legal requirements for a NPO
This article provides an insight in to non-profit organisations and the legal framework around them and is split in to two articles. Firstly, one should understand the similarities between non-profit […]
Different types of shares; ordinary versus preference shares
The Companies Act 71 of 2008 (“the Act”) provides for the authorisation and issue of various classes of shares by a company. Although shares can hold many different descriptions, shares […]