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.
We look at how travel allowances work, which method of calculation is best, and also provide a heads-up of how to manage the unforeseen consequences of the COVID-19 pandemic.
South Africa drifted into economic standstill for the umpteenth time after President Ramaphosa announced that the country will embrace Level 4 lockdown restrictions once more. While the hospitality and tourism sectors are rightfully up in arms, the rest of the country look on as tax season approaches.
Too often, taxpayers seem to forget that the most important aspect of dealing with SARS is to ensure that they can discharge their burden of proof.
Post-Covid economic resurgence saw an increase in international work opportunities. With skills in hand, many South African professionals have become sought-after in other countries. As a result, their finances and subsequent taxation have come under scrutiny. However, along with the awareness of tax complications, another threat has emerged.
In the wake of a global lockdown and travel restrictions, there came a resurgence in economic activity. Governments the world over poured relief funds into all types of commerce, hoping to jumpstart businesses across all platforms and trade areas.