Provisional tax simplified: key deadlines and compliance strategies
Missing the provisional tax deadlines can lead to steep penalties and interest. This article outlines the key dates and payment rules to help you stay ahead.
SARS
Budget 2025: can debt stability lay the foundation for growth?
With South Africa’s debt-to-GDP ratio at 75.1%, Finance Minister Enoch Godongwana faces a tough balancing act – can his Budget Speech reassure investors and spark economic growth?
How to maximise your tax benefits in a two-pot era
Carla Rossouw, head of tax at Allan Gray, discusses what investors need to know about retirement fund products and the looming end-of-tax year deadline on 28 February.
Tax collections miss forecasts – will taxpayers bear the burden?
A dip in corporate and VAT revenues has left a R10bn hole in expected tax collections. As the Budget approaches, Treasury faces a difficult balancing act.
Ombud urges taxpayers to share eFiling hijacking experiences in survey
Have you or your clients been affected by eFiling profile hijacking? The Tax Ombud is investigating SARS’s handling of these incidents.
SARS ramps up scrutiny as trust and provisional tax filings surge
With more tax returns submitted, SARS is intensifying efforts to ensure full compliance, particularly among trusts, using AI and data-driven enforcement.
SARS anticipates up to R12bn from two-pot withdrawals
This is double the initial estimate of between R5bn and R6bn.
Gross two-pot withdrawals top R43 billion
SARS highlights common errors that can lead to application rejections and warns against attempts to evade tax.
Industry raises red flags over tax treatment of collective investment schemes
Treasury’s proposed tax changes for investment funds may lead to trading distortions and reduced revenue, say industry experts.
Be aware of the difficulties when dealing with tax debt in business rescue
Can a creditor lose their right to enforce post-commencement debt? A High Court case sheds light on the fine print of business rescue rules and SARS’s role in enforcing tax obligations.
South Africa’s global minimum tax: a game-changer for corporate taxation
The Global Minimum Tax Act aims to level the playing field for multinationals while potentially adding R8 billion to South Africa’s tax base by 2027.
Treasury publishes draft amendments to two-pot legislation
The Bill provides for flexibility when provident and provident preservation funds perform the seeding calculation.
SA’s corporate tax base rests on a few large companies
More than 3.6 million companies were registered with SARS, and only 0.1% of them contributed 72.3% of corporate income tax revenue in 2022.
Ramaphosa calls on private sector to end appointments of Bain and McKinsey
The Presidency is not happy with McKinsey’s appointment as a supporting partner to the B20 or Bain’s running the Energy Council’s project management office.
Criminal liability for small businesses that fail to register for VAT
Exceeding the R1m threshold without registering could have serious consequences for businesses. SARS is stepping up enforcement, with a wave of cases landing in the Specialised Commercial Crimes Court.
R35bn withdrawn as SARS reports unprecedented two-pot system activity
Some 20% of applications for tax directives were rejected.
Treasury analysing SARS data in considering a possible wealth tax
MPs are also told that the fiscus cannot afford a permanent and expanded Social Relief of Distress grant without tax increases.
