Tax

New research from Discovery Green and EY highlights the impact of rising carbon taxes on the electricity costs of South African businesses

Tax implications of the ‘two-pot’ retirement system

The ‘two-pot’ retirement system came into effect on 1 September 2024, with the South African Revenue Service (SARS) saying a total gross lump sum of R21.4 billion has been paid out to taxpayers, thus far. Overall, the system aims to enable South Africans access to a portion of their retirement savings, while preserving the bulk of the savings to help ensure that they can still afford to retire when the time comes.

SARS's Halloween Haunt - Aggressive Collection Measures Unveiled

As the witching hour approaches, the South African Revenue Service (SARS) is casting a spell of urgency over taxpayers with its increasingly aggressive collection measures.

More than 1 million taxpayers withdraw from their savings pot

The South African Revenue Service (SARS) wishes to announce that to date it has received 1,213,646 applications for tax directives for withdrawals from the Savings Withdrawal Benefit of the two-pot system.