Flexible Benefits Offer a Lifeline in Tough Economic Times
South Africa continues to face an unforgiving economic climate. Households are grappling with rising costs of food, fuel, electricity, and school fees, while salary increases remain modest or frozen altogether. As many employees search for ways to stretch their income, one practical, cost-neutral solution stands out: flexible benefits.
SARS Guns Next Big Tax Collection Target – R100 Billion PLUS!
Having had great success with its specialised tax compliance programmes over the last few years, SARS has now called in the cavalry this tax return filing season, through “Project AmaBillions”, to bolster its tax debt collection capabilities.
Woolworths Triumphs Over SARS in VAT Showdown – Supreme Court Clarifies Input VAT Rules Amid SARS’ Narrow Interpretation
In a significant win for taxpayers on the South African Revenue Service’s (SARS) “narrow” approach to the ability to claim input Value-Added Tax (VAT), the Supreme Court of Appeal (SCA) recently ruled in favour of Woolworths Holdings (Woolworths), the group holding company, affirming its right to claim over R8 million in input VAT.
Everyday Online Subscriptions and Shopping Can Push South Africans Over Their Offshore Spending Limit
For South African residents and expatriates living abroad, reaching the R1 million annual limit of offshore spending allowed under exchange control regulations, can happen far more quickly than expected. This can soon land them in hot water with the South African Reserve Bank (SARB) who closely monitors funds flowing out of South Africa.
SARS Sharpens Scrutiny of Expatriate SA Tax Residents
South African expatriates living and working abroad are firmly in the Tax Man’s sights. Recent enhancements clearly indicate the South African Revenue Service (SARS) is increasing its focus on the importance of expatriates legally confirming the basis on which they cease their tax residency status in South Africa to benefit from a reduced income tax liability as non-resident taxpayers.