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Cecil Kilpin | March 2021 Newsletter

By |2021-05-25T11:50:47+02:00Mar 25th, 2021|Business, Finance + Economics, Goverment, Newsletter, Tax|

Asset Tokenization As emerging technologies become more accepted and established throughout society, old problems become solved and new opportunities start to arise. Blockchain has been around for over a decade and has been popularized mostly through its association with cryptocurrencies. Offering numerous benefits, new applications of blockchain are constantly being researched in the hopes of disrupting industries. One of these applications is that of tokenization – specifically, the tokenization of assets. Firstly, what is asset tokenization? Effectively, it is the taking of a physical asset and converting it into a digital medium which is represented as a token on the blockchain. Each token also contains the associated ownership rights of the asset. For example, a house worth R1 [...]

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Cecil Kilpin | October 2017 Newsletter

By |2017-10-12T11:42:39+02:00Oct 6th, 2017|Business, Goverment, Newsletter, Tax|

"PAY YOUR TAXES OR PAY THE PRICE" SARS has announced an intensified drive to clamp down on non-compliant tax payers by intensifying criminal proceedings. There has been a significant increase in non-compliance, resulting partly in SARS not meeting revenue collection targets. It is a criminal offence not to submit tax returns and could result in substantial fines or even criminal prosecution leading to imprisonment. The following non-compliance penalties could be charged: Fixed amount penalties Fixed rate penalties can be imposed by SARS for non–compliance with any procedural or administrative action or duty imposed or requested, for example: Not registering when required to Not informing SARS where there is a change in registration details Not filing returns Not retaining records as required by SARS Percentage based [...]

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