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11Dec 2018

Good news to end 2018 as the South African economy grew by 2,2% quarter-on- in the third quarter of 2018, bringing to an end the country’s second recession since 1994. Higher contributions to growth in a number of industries – most notably in manufacturing, transport as well as finance and business services – were enough […]

07Nov 2018

In a move to start tightening up on compliance, SARS has issued a notice stating that administrative penalties will be imposed on companies that receive a final demand to submit a return. In terms of Section 210 of the Tax Administration Act of 2011, non-compliance with regards to non-submission of required CIT returns may be […]

07Nov 2018

It is not the norm for budget proposals to be mooted in the MTBPS but given the fallout from the increase in vat from 14% to 15%, concessions have been made on some basic commodities. So, with effect from 1 April 2019 the following items will be zero rated: Sanitary pads Bread flour Cake flour […]

07Nov 2018

“I can promise my new colleagues in the National Treasury that much more hard work lies ahead for all of us in the interests of our country” – TT Mboweni The quote above from Tito Mboweni pretty much sums up the MTBPS. Since the last budget speech our economic forecasts have had to be revised given the […]

07Nov 2018

The 17 Sustainable Development Goals (SDGs) of the 2030 Agenda for Sustainable Development were adopted by 193 world leaders in September 2015 at the United Nations General Assembly: “Transforming our World: the 2030 Agenda for Sustainable Development” [known as Agenda 2030]. They officially came into force on the 1 January 2016. South Africa is one […]

14Oct 2018

Tax Season Season closes on 31 October for non-provisional tax-payers and for those provisional taxpayers who opt to file at a branch.  Provisional taxpayers ordinarily have until 31 January 2019 to file on eFiling only. To date, SARS is close to reaching the 3-million mark in tax return submissions for the current year of assessment. […]