Compromise to Clear Unaffordable Tax Debt – Is SARS’ “Project AmaBillions” Here to Take Your Millions?
As SARS continues to enhance its Compliance Programmes by modernising its systems and integrating artificial intelligence to better identify instances of non-compliance, so too is the revenue collector bolstering the manpower behind its tax debt collections team. In a strategic move, National Treasury has allocated additional funding to SARS’ resourcing initiatives, effectively boosting its operational […]
Project AmaBillions: SARS Reportedly Shifting into Top Gear to Collect a Mountain of Outstanding Tax Debt
In preparation for the upcoming tax filing season, the South African Revenue Service (SARS) is believed to work on a major special initiative focused on tax debt collection, which is expected to yield an additional R70 billion in revenue over the next three years. It is understood that in the hallways at SARS officials aptly […]
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 This morning South African businesses and consumers woke up to the news that Finance Minister Enoch Godongwana has withdrawn the proposed increase of 0.5 percentage points.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 […]