SECOND PROVISIONAL TAX – 28 FEBRUARY 2025 DEADLINE. The second provisional tax return for the 2025 tax year, is due for submission to SARS by 28 February 2025. It is important to advise our tax department of any of the following which took place (or is to take place) in the 2025 [...]
Africa Overview. “Africa is on its way to becoming a preferred investment destination, a potential pole of global growth, and a place of immense innovation and creativity. But there is also a long way to go — and Africa’s governments must as a matter of urgency turn their attention to those who [...]
SMEs Embrace AI to Boost Efficiency and Competitiveness. Berlin, October 2023 - Small and medium-sized enterprises (SMEs) are increasingly turning to artificial intelligence (AI) to enhance their operations, improve customer experiences, and stay competitive in a rapidly evolving market. A recent study published in the Journal of Business Management highlights the key AI [...]
National Treasury Welcomes Signing of Pension Funds Amendment Act. National Treasury expressed its satisfaction as the President signed the Pension Funds Amendment Act (31 of 2024) into law, marking the final step in implementing the two-pot system set to begin on 1 September 2024. This act introduces crucial changes to various pension-related [...]
CIPC Implements Stricter Beneficial Ownership Declaration Requirements for Companies and Close Corporations. In a recent media release, the Companies and Intellectual Property Commission (CIPC) announced the enforcement of stricter regulations regarding the filing of Beneficial Ownership Declarations with Annual Returns for companies and close corporations. This move is in response to the [...]
SARS Introduces Automated Process for Trust Dispute Resolutions. In April 2024, an automated process for Trust taxpayers was introduced on eFiling to electronically submit documentation to lodge a dispute via a fully guided process. This applies to the following transactions: Submission of Request for Reasons Request for [...]
A Green Economy In South Africa The South African Department of Forestry, Fisheries and the Environment has defined the green economy in South Africa as “a system of economic activities related to the production, distribution and consumption of goods and services that result in improved human well-being over the long term, while not exposing [...]
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 [...]
Budget Preview Minister Gigaba will present his first full budget speech on the 21st February 2018. This has to be one of the most important budget speeches announced post-democracy - one that could make or break our fragile economy. The scale of funding the budget deficit alone is daunting, set against a backdrop rebuilding investor [...]
Financial Intelligence Centre Amendment Bill Signed into Law Following a long delay, President Zuma finally signed the Financial Intelligence Centre Amendment Bill into law at the end of April 2017. The bill is required for South Africa to meet its international commitments with the Financial Action Task Force (FATF).The amendments to the Financial Intelligence Centre [...]
