Tax

“The backbone of any successful phishing attack is a well-designed spoofed email or spoofed website, which is why it pays to have a healthy level of scepticism when it comes to opening emails and visiting websites.” (Phishing.org) With Tax Season 2023 upon us, expect an upsurge in scam emails, seemingly…

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 (individuals). Disclaimer: The information provided herein should not be used or relied on as professional advice. No…

“Confidentiality of taxpayer information has always been a fundamental cornerstone of tax systems… taxpayers need to have confidence that the often-sensitive financial information is not disclosed inappropriately, whether intentionally or by accident.” (Organisation for Economic Co-operation and Development – OECD) The confidentiality of taxpayers’ information has recently come under the…

7 July – Monthly Pay-As-You-Earn (PAYE) submissions and payments 28 July – Excise Duty payments 31 July – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted…

“The government expects that, by encouraging companies to undertake R&D in South Africa, local companies will strengthen their capabilities of developing value-added products, technologies and services.” (Department of Science and Innovation (DSI) – South Africa) Research and development (R&D) is essential to boost innovation in the business sector, as it…

7 June – Monthly Pay-As-You-Earn (PAYE) submissions and payments 29 June – Excise Duty payments 30 June – End of the 1st Financial Quarter 30 June – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or…

“The lack of reliable electricity supply is the biggest economic constraint… I am pleased to announce two tax measures to encourage businesses and individuals to invest in renewable energy and increase electricity generation.”(Finance Minister Enoch Godongwana – Budget 2023) In the 2023 Budget, the lack of a reliable electricity supply…

“In 2022 South Africa had the 12th highest income tax burden, the 9th highest company income tax burden, and the 14th highest non-resource tax burden worldwide.” (Garth Zietsman, South Africa’s Tax Freedom Day statistician)  Tax Freedom Day marks the day in the year when South Africans stop giving all their money to their…

5 May – Monthly Pay-As-You-Earn (PAYE) submissions and payments 30 May – Excise Duty payments 31 May – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted…

“…governments internationally have increasingly used tax measures to support efforts aimed at regenerating urban areas.” (SARS Guide to the UDZ Allowance) The urban development zone (UDZ) tax incentive, provided for in section 13quat of the Income Tax Act (the Act), was introduced 20 years ago in 2003, as an accelerated depreciation allowance for property…