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.
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.
The amendments will relieve offshore companies from VAT registration when supplying services to domestic vendors, aligning SA with global best practice.
The group claimed R200m in VAT refunds for importing, storing, and selling diesel.
SARS rakes in more from personal income and VAT, but corporate tax slumps by almost 9%.
Not providing tax relief will be a relatively easy way for a cash-strapped National Treasury to collect revenue.
