At some point over the many years of submitting returns and paying taxes, individual and corporate taxpayers will have grounds to dispute an assessment or decision from SARS. Fortunately, there are clear dispute resolution rules that guide both the taxpayer
SARS has imposed administrative non-compliance penalties on hundreds of thousands of taxpayers this year, following recent changes to the admin penalty rules. Once-off and especially recurring penalties quickly add up to a significant tax debt, and also lead to a
Recent legal and tax amendments have considerably altered the trust landscape, placing onerous new duties on the shoulders of all trustees in South Africa, while also exposing them to significant risk, with penalties for non-compliance including substantial fines of up
7 September – Monthly Pay-As-You-Earn (PAYE) submissions and payments 28 September – Excise Duty payments 29 September – End of the 2nd Financial Quarter, Value-Added Tax (VAT) electronic submissions and payments, CIT Provisional payments where applicable.
While SARS’ announcement of the removal of the supplementary declaration for Corporate Income Tax (CIT) for companies or close corporations – the IT14SD form – appears to indicate less paperwork, cost and time when a company is selected for CIT
Most tax criminal offences are not premeditated acts of tax evasion, but ordinary events that now – in terms of the Tax Administration Act – expose individuals and businesses to the possibility of committing offences that carry harsh penalties, including
7 August – Monthly Pay-As-You-Earn (PAYE) submissions and payments 30 August – Excise Duty payments 31 August – Value-Added Tax (VAT) electronic submissions and payments, CIT Provisional payments where applicable, first provisional tax payment for the 2024 tax year (individuals)
Subscribe to our monthly newsletter and receive the latest insights right to your mailbox.