Tax Court Confirms Auditor’s Advice Is Not “Get-Out-Of-Jail-Free” Card
The Tax Court has again confirmed that there is no safety for taxpayers in relying on their auditor’s views to justify a tax position adopted.
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The Tax Court has again confirmed that there is no safety for taxpayers in relying on their auditor’s views to justify a tax position adopted.
National Treasury published the latest Draft Tax Bills on 28 July 2021, which incorporate the tax proposals made in the 2021 Budget.
Over the last couple of years, SARS has systematically increased their manpower to better orchestrate taxation processes, as well as their investigative procedures. They have also allocated R3 billion towards improving their technological and information-gathering infrastructure, which will aid in tightening the noose around individuals with undeclared foreign-earned income or cryptocurrency tax evaders.
National Treasury published the latest Draft Tax Bills on 28 July 2021, which incorporate the tax proposals made in the 2021 Budget. Highlighted below are 5 key changes proposed by Government that taxpayers need to be aware of.
President Ramaphosa announced on 25 July that government will provide continued support to businesses by deferring employees’ taxes (PAYE) for three months.
The Compromise of Tax Debt application (“the Compromise”) is aimed at aiding taxpayers to reduce their tax liability by means of a Compromise Agreement (“the Agreement”), which is entered into with SARS.
In the wake of a surge in claims for home office deductions, SARS held a webinar to ensure taxpayers understand the requirements for their claims to pass muster.
Adding to the challenges of 2020, the South African Revenue Services (SARS) announced that it did not make its annual budget.
In a further effort to enhance its enforcement on a global scale, SARS announced on 6 July that it will join forces with the Criminal Investigation Division of the United States’ Internal Revenue Service (IRS). This partnership will undoubtedly build up SARS’ capacity to trace offshore wealth; the opportunity for SARS to rub shoulders with […]
Remote work has become the norm for many employees and professionals alike. Along with the growth of the ‘gig’ economy, which surged during the Covid-19 pandemic, the most remarkable change is the flexibility and mobility of remote working employees, who can criss-cross the country and global borders without taking a day’s leave.
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