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Cecil Kilpin | October 2023 Newsletter

By |2023-10-17T11:05:57+02:00October 17th, 2023|Accounting, Business, Finance + Economics, Goverment, Newsletter|

Companies First Amendment Bill, 2023 And Second Amendment Bill, 2023. The Companies First Amendment and Second Amendment Bill were tabled in Parliament on the 28 August 2023, and have been published. [The initial draft of the Companies Amendment Bill was published in 2018, followed by a revised draft Bill in 2021, both of which have undergone extensive public consultation and engagement]. The First Amendment Bill seeks to, inter alia:Remove certain obstacles to legitimate business activityFacilitate greater equity between directors and senior management on the one hand, and shareholders and workers on the other hand – among other things by ensuring greater transparency regarding the disclosure of senior executive remuneration and its ‘reasonableness’. The Bill proposes that shareholders be advised at annual [...]

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Cecil Kilpin | July 2020 Newsletter

By |2022-01-20T12:11:59+02:00July 31st, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax|

Donations made to the Solidarity Fund The deduction available for donations increased. To alleviate the cashflow difficulties of employees where their employers contribute to the Solidarity Fund on their behalf, Government is proposing a special relief measure by temporarily increasing the current 5% tax limit in the calculation of monthly PAYE of the employee. An additional limit of up to a maximum of 33.3% for three months or 16.66% for six months, depending on an employee’s circumstances, will be available.   This will ensure that the employee gets the deduction that is in excess of 5% much earlier than under normal circumstances and will therefore not have to wait until final assessment to claim a potential refund, provided the donation is made to the Solidarity [...]

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Cecil Kilpin | Further Tax Measures To Combat The Covid-19 Pandemic

By |2022-01-20T12:33:10+02:00April 29th, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax, Vat|

  In line with the President’s address to the nation on 21 April 2020, the Minister of Finance has provided more detail on the second set of measures that aim to assist individuals and businesses through the pandemic. The interventions include:     Skills Development Levy Holiday: From 1 May 2020, there will be a four-month holiday for skills development levy contributions Fast-Tracking of Value-Added Tax (VAT) Refunds: Smaller VAT vendors that are in a net refund position will be temporarily permitted to file monthly instead of once every two months, thereby unlocking the input tax refund faster and immediately helping with cash-flow Three-month Deferral for Filing and First Payment of Carbon Tax Liabilities: To provide additional time to complete the first return, as well as cash flow relief [...]

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