Cecil Kilpin | May 2016 Newsletter

By |2022-01-21T12:26:58+02:00April 28th, 2016|Newsletter|

SARS Collections Exceed R1 Trillion: For the first time in the history of South Africa, tax collections have exceeded one trillion rand.In spite of difficult economic conditions, The South African Revenue Services (SARS) recently announced that it had met its tax collection target, collecting a record R1.0699 trillion in taxes in 2015. This was mainly due to a much improved operating model with more efficient services and systems, ensuring that tax payers have had to become more compliant. Some features of SARS’ new operating model include: Re-alignment the organisation e.g. Customer and Excise is now a branch of SARS, thereby playing a vital role in the defence against illicit economy A ‘one-stop-shop approach’, making all tax services accessible from individual SARS offices Streamlining compliance requirements, [...]