In the matter of Medtronic International v CSARS (33400-19) ZAGPPHC, Medtronic (“the taxpayer”) brought a review application against the Commissioner of SARS (“the Commissioner”). This was due to the taxpayer being a victim of fraud, perpetuated by a Medtronic employee, to the tune of approximately R460 000 000,00.
Under the original section 105 of the Tax Administration Act, 28 of 2011 (“the TAA”), taxpayers could elect to dispute a “decision” by application to the High Court for review. This was, however, amended in 2015, to make it clear that a “decision” by SARS may only be disputed per the objection and appeal procedures, […]
“Bitcoin, blockchain, mining”. By now we’re all familiar with cryptocurrency and its related buzzwords. The initial boom in cryptocurrency markets, has resulted in many people becoming cryptocurrency investors, with everyone seeking to capitalise on intangible investment opportunity, or at least, the loss that comes with their investments, in the current bear market.
Having seen the contents of the budget speech retold endlessly in the media, many business professionals are still no wiser about how their companies will be impacted by the announced policy changes.
The dispute resolution process, as outlined under Chapter 9 of the Tax Administration Act, No. 28 of 2011 (“the TAA”), read together with Part B, of the Tax Administration – Regulations (“the Regulations”), provides the applicable timelines within which such a dispute resolution process must be initiated.
Many high net worth (HNW) individuals and families, as well as qualified professionals, are seriously considering emigrating from South Africa to the US. Whether it is for work or to escape the country’s poor economic conditions and dwindling wealth opportunities, it’s a life-altering decision that shouldn’t be taken lightly. Or rushed into without the right […]
The release of the 15th Annual Edition of Tax Statistics on 03 March 2023 (“2022 Tax Statistics”), published by National Treasury and the South African Revenue Service (“SARS”), reverberated a positive shockwave with the post-pandemic recovery in revenue collections being nothing short of impressive.
For expatriates who have decided that it is time that they break all ties with South Africa, the process of getting the South African Revenue Service (“SARS”) off your back can be a long, time-consuming affair that can result in many mistakes. With an increasing number of expatriates opting to financially emigrate, the deregistration process […]
With the Covid-19 pandemic now largely in the rearview, the South African Revenue Service (“SARS”) has been strategically ramping up its tax collection and compliance drives. In the wake of the 2023 budget speech, SARS announced unprecedented revenue collection figures, being a direct result of its increased focus on making non-compliance costly, and voluntary compliance […]
South Africa is a tax resident system. Tax residents of South Africa are taxed on worldwide income and South African sourced income. With the full foreign income exemption being capped in March 2020, it is more important than ever for expats, with a permanent intent to reside abroad, to formally cease their residency.