Tax Bills Propose Additional Exit Tax On Emigrating South Africans
National Treasury published the latest Draft Tax Bills on 28 July 2021, which incorporate the tax proposals made in the 2021 Budget.
SARS System Enhancements Enforce Tax Compliance
Over the last couple of years, SARS has systematically increased their manpower to better orchestrate taxation processes, as well as their investigative procedures. They have also allocated R3 billion towards improving their technological and information-gathering infrastructure, which will aid in tightening the noose around individuals with undeclared foreign-earned income or cryptocurrency tax evaders.
New Tax Bills Published: Five Key Proposals
National Treasury published the latest Draft Tax Bills on 28 July 2021, which incorporate the tax proposals made in the 2021 Budget. Highlighted below are 5 key changes proposed by Government that taxpayers need to be aware of.
Should Companies Defer Their PAYE Obligations?
President Ramaphosa announced on 25 July that government will provide continued support to businesses by deferring employees’ taxes (PAYE) for three months.
Compromise of Tax Debts with SARS: A Solution for Financially Impacted SME’s
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.