by Peet Pieterse | Mar 18, 2021 | Accounting, Business Consulting, Tax, Uncategorized
A few years ago, SARS commenced the loading of monthly penalties on individual taxpayers who had overdue Income tax returns. This was later extended to companies and now also cover outstandingPAYE returns. A new penalty For a number of years, the Income Tax Act made...
by Peet Pieterse | Aug 4, 2020 | Tax
Individual taxpayers who are registered as provisional taxpayers as well as all companies, close corporations and trusts with a February year end must submit their first provisional tax return for the 2021 tax year by the end of August. They also have the option to...
by Peet Pieterse | Jun 18, 2020 | Tax
In the past tax season usually opened on 1 July for individual tax return submissions. As a result of COVID19 SARS has implemented a new strategy to reduce the need for taxpayers to potentially visit a SARS branch. This includes an automated assessment for some...
by Peet Pieterse | Mar 27, 2020 | Tax
The Company and Intellectual Property Commission (CIPC) introduced a new compliance checklist. All companies that are required to perform an independent review or an audit is required to complete the checklist on an annual basis. The intention of CIPC behind this new...
by Peet Pieterse | Mar 20, 2020 | Tax
On 1 March 2020 the much talked about Tax on Foreign Income became a reality in South Africa. The question on everybody’s lips is: “Does this new tax apply to me?” Tax residency The short answer to the question is probably yes. It applies in the sense that this is...
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