Dividends Tax Compliance
Our clients will know that dividends tax replaced the old Secondary Tax on Companies (“STC”) on 1 April 2012 already. Briefly, the STC was a tax on companies and calculated as a factor of dividends declared by that company. The regime was somewhat out of touch with international trends though (which also gave rise to […]
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 the Employer Reconciliation, with two exceptions: 1. The Interim Reconciliation is completed for six months […]
Objecting to an assessment
One of the risks of not using a tax professional to attend to one’s tax affairs arises when SARS assesses an individual’s income tax return. Quite often, a return submitted is assessed incorrectly, or on a basis in terms of which SARS is disputing certain submissions made by the taxpayer in filing his or her […]
SARS VAT reviews and audits
It has become a common occurrence for vendors to receive a notice for a VAT review from SARS, which requires the vendor to submit supporting documentation in respect of a specific VAT201 return within 21 days. If the vendor fails to submit the supporting documentation, SARS may issue an additional assessment, disallowing the full value […]