There are only run-of-the-mill deadlines this month. It is worth getting your filing and workpapers ready for your 2018 tax return as filing season opens in July. Tax Scams Be alert to yet more scams involving SARS, such as fraudulent emails which say you owe interest to SARS...
The Companies and Intellectual Property Commission (CIPC) will from 1 July 2018 require that all Annual Financial Statements (AFS) submitted to the CIPC be in eXtensible Business Reporting Language (XBRL) format. What is XBRL and what are its benefits? It is a global standard for digital reporting....
The EU’s General Data Protection Regulation (GDPR) became enforceable on the 25th of May. It is regarded as the world’s most comprehensive legislation protecting private data. GDPR may be applicable to South Africans if your business provides goods or services in the EU, and in certain...
"All courses of action are risky, so prudence is not in avoiding danger (it’s impossible), but in calculating risk and acting decisively” (Niccolo Machiavelli) We are all aware that business, as with life, is full of risks and things go wrong from time to time. Some of...
It has become a global phenomenon measuring Tax Freedom Day, the day up to which you work to pay your taxes – only after Tax Freedom Day do you start working for yourself. In 2018 it takes us South Africans 133 days or 39% of...
Amazon is now regarded as the best company in the world – its market capitalisation is approaching R800 billion and its founder Jeff Bezos is the world’s richest man. Year after year in customer satisfaction surveys Amazon invariably comes out on top. Jeff Bezos recently shared...
Your annual EMP501 reconciliation for the period 1 March 2017 – 28 February 2018 is due for submission by 31 May 2018, together with all Employees Income Tax Certificates [IRP5/IT3(a)s]. You can submit online via eFiling if you have less than 50 employees, or via e@syFile™...
SARS has released a media statement on Bitcoin in which it states that people dealing in Bitcoins or other cryptocurrencies are subject to normal Income Tax law in terms of gross income, tax deductions or Capital Gains Tax. SARS are treating Bitcoin not as a...
“We're running the most dangerous experiment in history right now, which is to see how much carbon dioxide the atmosphere...
Are you aware that less than 40% of the petrol price is made up of actual petrol cost? Most of it goes to pay tax (Fuel Levy), the Road Accident Fund and the various players in storing, wholesaling and retailing petrol. As of April the makeup...