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Playing the waiting game to see if Nene can work miracles

01 September 2015 | Tax

Tax season is well underway, and there are many people in the country who are hoping that it will be a profitable season for the South African Revenue Service (SARS) as the budget has been under significant pressure over the past two years.

Trust taxation

20 August 2015 | Tax

The first interim report on estate duty to the Minister of Finance by the Davis Tax Committee (Committee), which was made public on 13 July turned its focus squarely on trusts.

Tax debts can be managed

18 August 2015 | Tax

The 17th century French Finance Minister, Jean-Baptiste Colbert said, “the art of taxation consists of plucking the goose so as to obtain the most feathers with the least hissing.” There may be some hissing from taxpayers during the 2015/16 fiscal year as the South African Revenue Service (SARS) set about collecting tax to meet the R1.1 trillion target set by National Treasury. Taxpayers who fail to pay their tax timeously are likely to come under pressure from the SARS debt collection department as they endeavour to reach their target.

SARS to waive penalties for voluntary disclosure?

06 August 2015 | Tax

The rapid development in international tax transparency over the past two years in the form of the OECD Common Reporting Standard CRS has caused many South African taxpayers to consider regularising their offshore tax affairs via the SARS Voluntary Disclosure Programme (VDP). The prospect of a ‘penalty-free’ VDP has recently emerged in the light of the proposals of the Tax Administration Laws Amendment Bill. The main impediment to regularisation at this stage seems to be the exchange control regime, although there may be some developments soon in this regard.

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If you had to choose one approach to protect your hard-earned investment cash from today’s market madness, which would it be?

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