An integral part of our economic lives is the accounting for and paying of income taxes. In terms of the International Financial Reporting Standards for Small and Medium Sized entities (IFRS for SMEs), income tax comprises current tax liabilities (or assets) and deferred tax liabilities (or assets). What is the difference…?

The South African Revenue Service (SARS) recently issued a revised 2022 Service Charter. In it important rights and obligations of taxpayers are provided, as well as service level standards of SARS.

When a loved one passes away, it is important for family members to know that SARS is involved in the process of finalizing an estate. The Executor of the estate can only finalize the matter when SARS is satisfied that all the tax affairs of the deceased, pre- and post-death, are up to date.

It is important for taxpayers and tax practitioners alike, to be aware of reportable arrangements and the corresponding responsibilities that must be complied with by participants in a reportable arrangement, for purposes of avoiding unnecessary penalties.

Are you a South African tax resident earning foreign employment income? Then this article will give you some clarity on the section 10(1)(o)(ii) exemption and claiming of your foreign tax credit under section 6quat(1A) read with section 6quat(1B)(a).

Registered VAT vendors still frequently claim VAT input tax deductions without being in possession of a valid tax invoice. This exposes the VAT vendor to various tax related risks.

With SARS there is never a dull moment and always something interesting to take note of… the new, the good, the bad and the ugly.

Employees and their relatives who were awarded scholarships and bursaries benefited from a tax exemption since 2006 but this programme became the subject of controversy in 2020.

The capable and qualified team in our tax department add great value whilst assisting our clients with a comprehensive list of tax related services. If you have any queries regarding income tax, VAT, PAYE or any other tax or SARS related matters, feel free to contact us.

A tax invoice is an essential part of the audit trail of a vendor and the failure to issue a tax invoice is a contravention of the Value-Added Tax Act No.89 of 1991 (the VAT Act) and an offence in terms of Administration Act, No 28 of 2011 (the Admin Act). Our article lists the requirements for a valid tax invoice.