Budget Speech

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Cecil Kilpin | January 2021 Newsletter

By |2022-01-20T11:38:54+02:00January 29th, 2021|Business, Finance + Economics, Goverment, Newsletter|

Apps and the benefits they bring The digital landscape is constantly evolving, and as more emerging technologies gain traction, more and more opportunities become available to businesses that need to be utilized otherwise they risk falling behind – especially now that we are living in a vastly different “New Normal”. It is now harder for businesses to only rely on word of mouth or the use of bulk emailing to keep their clients informed and must utilize all digital platforms in order to thrive. Though having a website is necessary, it is now no longer enough as more than 50% of time spent on the internet is spent on smartphone apps as opposed to desktops. Even mobile sites [...]

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Cecil Kilpin | October 2017 Newsletter

By |2022-01-21T10:45:16+02:00October 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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Cecil Kilpin | March 2013 Newsletter

By |2022-01-21T12:34:56+02:00February 28th, 2016|Newsletter|

2013 Budget Speech - A Quick Review: Contrary to expectations, there was not a great deal impacting directly on VAT, corporate tax or personal tax in the 2013 Budget speech. Pre-budget speech predictions anticipated a possible increase in VAT, corporate tax, and that the maximum personal income tax rate could nudge up to 42%. None of these predictions came about - VAT is still levied at the standard rate of 14%, and the rate of tax for companies remains at 28%, and the maximum personal income tax rate remained unchanged at 40%. Some of the highlights from this year’s speech are as follows: The introduction of an employment tax incentive targeted to support young workers and those employed in special economic zones Individuals whose taxable [...]

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