Half of corporate taxpayers in PwC’s latest survey express dissatisfaction with SARS’s service improvements. Only 3% report a positive shift, while audit delays and penalty disputes remain a major pain point.
The MTBPS shows tax revenue will be below the Budget estimates, but SARS is adamant it will do everything in its power to collect as much money as it can.
Taxpayers may soon have a faster, cost-effective way to resolve disputes with SARS through alternative dispute resolution at the objection phase.
With SARS tightening crypto enforcement, taxpayers should review their past filings, ensure accurate reporting of crypto profits, and consider the Voluntary Disclosure Programme to avoid severe penalties and interest.
SARS has processed more than 1.2 million tax directives for savings component withdrawals, paying out R21.4 billion to fund members.
Expert legal interpretations, even if contrary to SARS’s stance, may not automatically result in understatement penalties.
Among other measures, SARS says it is engaging with the FSCA about providing information on registered crypto asset service providers.
The tax dispute between ABD and SARS highlights the complexity of IP royalty pricing and the importance of expert testimony in transfer pricing audits.
Discovery Corporate and Employee Benefits provides a checkist of what employers should be doing before 1 September.
Tax experts Louis Botha and Nicholas Carroll from Cliffe Dekker Hofmeyr discuss the significance of 2023 Tax Statistics, emphasising the potential impact of additional tax measures, the growth of the taxpayer base, and insights into Company Income Tax trends.
