Expats Among Millions of South Africans Tapping into Two Pot-Windfall
Only two months into the new tax year, many South Africans have again dipped into their retirement fund Savings Pot, after also making a withdrawal in the previous six months.
Withdrawing the VAT increase is good news for business, but …
Last week it was still all systems go for the VAT rate to increase to 15.5% on 1 May 2025. This morning South African businesses and consumers woke up to the news that Finance Minister Enoch Godongwana has withdrawn the proposed increase of 0.5 percentage points.
South African Companies Go Global – But Don’t Forget the Exchange Control Rules Back Home
With more and more South African companies eyeing growth beyond our borders, international expansion is becoming an exciting reality. Whether it’s tapping into foreign markets, acquiring offshore assets, or collaborating with related entities abroad, there’s a world of opportunity waiting. But as with most good things, there are a few key regulatory considerations that need […]
NPOs should not risk their S18A status, leaving their donors in the lurch
If you are a Section 18A approved non-profit organisation (NPO) that relies on donations, you already know how important it is for donors to claim tax deductions on their contributions. But did you know that failing to submit your IT3(d) forms on time, or making errors in the process, could put your S18A status at risk and leave your donors in the lurch?
VAT Victory: Tax Court Sides with Legal Practitioners’ Fund in R150m Showdown with SARS
The Tax Court has handed down a pivotal judgment in Fund v SARS (VAT 22558) [2025] ZATC CPT, confirming that the Legal Practitioners Fidelity Fund (“the Fund”) is entitled to deduct input Value-Added Tax (VAT) on over R150 million in professional indemnity insurance premiums.
SARS invokes Sections in Tax Law to make your worst fears come true – Judge confirms Constitutional Validity
It is well within the powers of the South African Revenue Services (SARS) to limit a taxpayer’s right to travel outside the Republic. A section in the Tax Administration Act (TAA) has a provision whereby a senior SARS official can even require for “the taxpayer to surrender his or her passport to SARS”.
Important Tax Directive Updates from SARS will impact expats’ withdrawal of retirement interests
On 8 April 2025, the South African Revenue Service (SARS) announced a set of updates on tax directive system changes which will impact South Africans who have already left the country or are in the process of cutting tax ties. This will come into full force on 11 April 2025.
ETI Crackdown: SARS Now Targeting Employers’ Income Tax Deductions
The Employment Tax Incentive (ETI) has been a cornerstone of the government’s efforts to combat youth unemployment since its introduction on 1 January 2014. By reducing the cost of hiring young workers, the ETI has incentivized businesses to employ first-time job seekers while ensuring they receive fair wages. With the scheme extended until 28 February […]
High-Wealth Individuals and Crypto Traders High on SARS’ Hit-List
SARS has confirmed its compliance radar is focused on both High-Wealth Individuals and taxpayers engaging in cryptocurrency related transactions for the next fiscal year! Both taxpayer segments have been a recurring collection windfall for the tax man and have once more made it onto the “Compliance Themes” to maximise revenue collection, per SARS’ Revenue Announcement […]
SARS Achieves Record Gross Collections of R2,303 Trillion for the 2024/25 Fiscal Year!
SARS confirmed record highs on a number of fronts in its Revenue Announcement which took place on 01 April 2025. This included taxpayer compliance behaviour, improved voluntary compliance, and SARS employee engagement levels. Most notably however is SARS’ gross revenue collection, being a staggering R2,303 trillion, at the end of March 2025!