The Companies and Intellectual Property Commission (CIPC) has often been viewed as just an administrator and recorder of decisions made by companies. In February however, the CIPC issued a Compliance Notice to the Public Investment Corporation (PIC) instructing it to recover a R4.3 billion investment in...
“So much of what we call management consists in making it difficult for people to work” (Peter Drucker) In a recent interview of a prosecutor, he expressed surprise that most of the people charged with commercial crime were normal and honest. Yet in a recent survey...
“A fine is a tax for doing wrong. A tax is a fine for doing well.” (Ecard humour) (Note: If you aren’t yourself an expatriate, please think of passing this on to someone who is – forward planning is important here!)Legislation has been passed that will...
There are no major tax deadlines for March but SARS is again warning taxpayers to – Only use registered Tax Practitioners, Ask for the practitioner’s registration number, and Verify the number online here. ...
There has been an anomaly in VAT law which new legislation has now largely resolved. The problem with the old position It has always been simple to correct calculable errors in tax invoices, such as price. A VAT debit or credit note would fix such mistakes. However,...
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred...
“People who complain about taxes can be divided into two classes: men and women” (Anon) How long will you work for the taxman today? Input your salary into the 2019 Tax Clock calculator and find out how many hours you will spend today working for the taxman, and...
The following proposed tax changes were announced Income tax rates are left unchanged. The primary rebate was marginally increased but the overall effect of this is that individuals will pay R12.8 billion more in tax – the so called “bracket creep” which means you pay higher taxes as salary increases...
Taxpayers and tax practitioners have in recent months been surprised to find their medical claim tax credits queried by SARS. Up to this year the processing of the tax credit has gone smoothly.To many taxpayers such as those with disabilities, pensioners and lower income taxpayers...
Cabinet has approved the most wide ranging amendments to the Companies Act (the Act) since its launch in 2011.Some of the important issues are briefly highlighted below. They are of course only proposed changes at this stage, published for comment and therefore subject to alteration...