Explore the Category
Given the ever-changing landscape of the past two years, the adage that nothing is certain except death and taxes is perhaps more apposite than ever. Whilst it may appear that a semblance of normality is returning, its almost as certain as death and taxes, that remote working will be a part of the next normal. South Africa’s recent State of the Nation Address even made mention of a new remote working visa.
It’s no secret that the rising cost of living is only set to keep growing. Food, fuel, interest rates, inflation – all of these elements are banding together to make South African lives as unaffordable as possible.
There is developing trend where tax practitioners and taxpayers alike cry “fear-mongering” where media releases caution against non-compliance, despite numerous statements by the South African Revenue Service (“SARS”) noting a zero-tolerance approach to any form of, willful or negligent, non-compliance.
The South African Revenue Service (SARS) is currently on a major tax compliance drive and taxpayers and their practitioners are feeling the pressure. However, system failures, delays with refunds and communication overload then sudden cessation are causing frustration for taxpayers, tax practitioners and SARS alike, says Phillip Joubert, Manager for the Centre for Tax Excellence at SAIPA.
Are financial advisers ready for the combined impact of COFI and AI?