DTA FAQs: Answering All Your Questions
As a South African expat, navigating double taxation agreements can be challenging. Experts answer all your burning DTA questions.
SARS Asks Big Questions in 2023 Tax Season for Individuals worth above R50m
The commencement of the 2023 tax filing season saw the South African Revenue Service (SARS) further upholding its commitment to keep a close eye on high-net-worth (HNW) taxpayers with assets above R50 million.
The Downfall of Crafty Taxpayers Who Hide Income From SARS and Seek to Rely on Prescription
All taxpayers should arrange their tax affairs to obtain the best advantage and to pay the least amount of tax. This is a right every taxpayer possesses, and well entrenched in South African and international tax law. However, this planning must be done within the constraints of what the law allows.
CIPC and SARS Align to Eradicate Non-Compliance at All Levels
If you hold “Beneficial Ownership” in relation to a company, you should already be aware of the new “Beneficial Ownership Register” functionality now on the Companies and Intellectual Property Commission’s e-services platform.
SARS Still Has Its Eye on SA Expats
South African expatriates (SA expats) who work and live abroad are cautioned to ensure their tax affairs are up to date, to avoid falling foul of SARS’ drive for full tax compliance. This is especially the case now that SARS has drastically turned its wheel to ensure the collection of all taxes due and payable.
Tax Debt – A Silent Killer; More Than What Meets the Eye
Tax debt can creep into your life if left unchecked; having dire financial and lifestyle, consequences for you, and potentially, your family.
SARS Gazettes New Era For Trusts, Aiming At Trustees And Beneficiaries
On 30 June 2023, in a Gazetted public notice, the South African Revenue Service (SARS) formally expanded its third-party reporting standards to include trusts. Now, all South African trusts, and some foreign trusts, are required to submit returns containing third-party information as specified by SARS.
Company Confidential Shareholding Days Are Over – Deadline For CIPC Beneficial Ownership
On 1 April 2023, the Companies and Intellectual Property Commission (CIPC) released its new “Beneficial Ownership Register” functionality on its e-services platform. This new requirement has placed companies under the spotlight as they must now declare their Beneficial Ownership to the CIPC.
Tax Filing Season 2023 Is Here: These Are The Changes You Need To Know
The South African Revenue Service (SARS) has confirmed that the 2023 tax season will commence as follows: Individual taxpayers (non-provisional): 7 July 2023 to 23 October 2023 Provisional taxpayers: 7 July 2023 to 24 January 2024
Taxpayers Remain Unaware of SARS’ Saving Grace For Non-Compliance
The South African Revenue Service (SARS) has continually granted a lifeline to non-compliant taxpayers by keeping the Voluntary Disclosure Programme (VDP) open, which allows non-compliant taxpayers to come clean. The VDP came as a saving grace for many, especially as SARS began ramping up its efforts to eliminate non-compliance and massive collection drives.