Cecil Kilpin | October 2022 Newsletter

By |2022-10-20T16:52:56+02:00October 20th, 2022|Business, Finance + Economics, Goverment, Newsletter, Tax|

DIRECTOR’S ROLE AMIDST RECENT TRENDS IN THE BUSINESS WORLD. Some of the recent trends in the business world, which directors should take cognisance of, are: Environmental, social and governance (ESG): This is an approach to evaluating and operating businesses that goes beyond the sole focus of shareholder return. ESG has three main focus points, being: An environmental aspect: the focus is on preserving the natural world, such as climate change, greenhouse gas emissions, biodiversity loss, deforestation, pollution, energy efficiency and water management. A social aspect: the focus is on people and relationships including working to support gender and diversity, equity, and inclusion, enhancing customer satisfaction and employee engagement. A governance aspect: the focus is on moving beyond how [...]

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Cecil Kilpin | April 2018 Newsletter

By |2022-01-21T09:57:52+02:00April 18th, 2018|Business, Newsletter, Tax|

SARS's Stance on The Tax Treatment of Cryptocurrencies Increased attentiveness and speculation regarding the future of cryptocurrencies has prompted calls for the South African Revenue Service (SARS) to provide direction as to how cryptocurrencies should be treated for tax purposes. However, there is an existing tax framework that can guide SARS and affected taxpayers on the tax implications of cryptocurrencies, making a separate Interpretation Note unnecessary for now. SARS will continue to apply normal income tax rules to cryptocurrencies and will expect affected taxpayers to declare cryptocurrency gains or losses as part of their taxable income. The onus is on taxpayers to declare all cryptocurrency-related taxable income in the tax year in which it is received or accrued.  Failure to do so could result in [...]

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