Tag Archives: SARS

2017 Tax Season made easy

The 2017 Tax Season has opened for individuals on 1 July, and SARS has released some handy tips and information to make the process pain free for taxpayer. In preparation for tax season, taxpayers can start gathering all the supporting documents that … Continue reading

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FIVE INPUT TAX CLAIMS YOU’RE NOT ALLOWED TO MAKE

Input tax is the VAT you pay your suppliers in the course of your business as well as VAT paid on goods you import. SARS allows you to claim the input tax for your relevant tax period when you complete … Continue reading

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EMPLOYER ANNUAL RECONCILIATION

The Employer Annual Reconciliation starts on 18 April 2017 and employers have until 31 May 2017 to submit their Annual Reconciliation Declarations (EMP501) for the period 1 March 2016 to 28 February 2017 in respect of the Monthly Employer Declarations … Continue reading

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NON-EXECUTIVE DIRECTORS LIABLE FOR VAT

If they receive fees exceeding R1m in 12-month period – SARS. Ingé Lamprecht  /  14 February 2017 00:04 Moneyweb JOHANNESBURG – A ruling by the South African Revenue Service (SARS) that non-executive directors are required to register and charge VAT where … Continue reading

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PROVISIONAL TAX: DID YOU KNOW?

Provisional tax payments is not a separate tax but pre-payments of income tax for a specific tax year. These pre-payments ensure that the tax load is spread over the tax year and can avoid a nasty surprise when SARS calculates … Continue reading

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UPDATE: TAX CLEARANCE CERTIFICATES

On 18 April 2016 the Tax Clearance Certificate application process as we know it was amended by the South African Revenue Service (SARS). This is good news as your Tax Clearance Certificate may now be obtained online via e-filing immediately. … Continue reading

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EMPLOYER INTERIM RECONCILIATION

In the past SARS required the Employer Reconciliation to be done every twelve months. A few years ago SARS introduced the Employer Interim Reconciliation in addition to the annual Employer Reconciliation. The Employer Interim Reconciliation have the same requirements as … Continue reading

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THE 2016 TAX SEASON IS OPEN

As is the case every year, the Commissioner for SARS recently published the annual notice to officially ‘open’ the 2016 tax season. Individuals are now able to file their annual income tax returns for the 2016 year of assessment (which … Continue reading

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THRESHOLD REGISTRATION REQUIREMENT FOR THE SKILLS DEVELOPMENT LEVY

We have recently become aware of an increased level of audits being conducted by the South African Revenue Service in relation to taxpayers’ obligations in terms of the Skills Development Levies Act, 9 of 1999 (SDL Act). The focus appears … Continue reading

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SARS RETENTION PERIODS: ARE YOU KEEPING YOUR TAX-RELATED RECORDS LONG ENOUGH?

How long must I keep my tax records? When can I throw old tax-related documents away? What happens if SARS request supporting documents and I don’t have it anymore? Specific tax laws lay down certain obligations regarding the retention periods … Continue reading

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