Amanda Visser – Page 5 – Moonstone Information Refinery

Day 2 Highlights from the FSCA Industry Conference 2026

Place of supply rules are becoming more important as transactions become increasingly digital and supply chains become more complex.

Vendors may have to acquire new software to be able to communicate with the Sars systems, or they may have to adjust their existing systems.

An amendment to the Income Tax Act makes it easier for Sars to collect taxes owed by tax non-resident beneficiaries of South African trusts.

A proposed amendment to the Income Tax Act will require foreign employers to withhold employees’ taxes.

The Supreme Court of Appeal’s judgment in the Coronation case finds its way into proposed amendments to the ‘controlled foreign company’ rules.

Choosing the wrong one could close the door to the dispute resolution process.

Trusts that have failed to comply with the rules are exposed to penalties and fines.

Clarity on when a gain is considered revenue or capital.

There is still a high threshold to meet before access to an individual’s tax records will be granted.

Meanwhile, a change in the VAT registration process may inconvenience taxpayers.

‘The new process comes down to more detailed and targeted requests for information regarding exit capital.’

Questions remain whether the automation of certain procedures will have the desired results.

They concern two deductions: non-business-related interest expenses and fees paid to tax practitioners for completing tax returns.

A failure to file tax returns may result in penalties, for which the directors may be held personally liable.

Trustees will have to report directly to Sars, outside of the current trust tax return process, and before the trust tax return is due.

Grey-listing reduces a country’s GDP growth by between 0.5% and 1.5%, says economist Iraj Abedian.

How the limitation on setting off assessed losses against taxable income affects life insurers and policyholders.