As South Africa grapples with a growing revenue shortfall, discussions around implementing a wealth tax have resurfaced, sparking renewed concerns among taxpayers, economists, and financial
As part of its ongoing commitment to becoming a smarter and more efficient revenue service, SARS is rolling out another digital transformation. In line with
The latest Annual Report from SARS reveals a remarkable 95.29% prosecution success rate for the 2023/24 financial year. This impressive statistic highlights SARS’ relentless drive
Taxpayer obligations are often perceived as burdensome, but they exist in a delicate balance against the powers and responsibilities of the South African Revenue Service
A tax debt typically stems from negligence, although in some cases it can result from intentional non-payment or other compliance infringements. Understanding how a tax
Individual Taxpayers Required to Disclose Beneficial Ownership Details in 2024. Tax Returns SARS has intensified its focus on the reporting of beneficial ownership information, extending
Filing Season, including changes to deductions for retirement fund contributions, tax-free investments, and urban development zones. They have also introduced a solar energy tax credit
Small, Medium, and Micro Enterprises (SMMEs) play a crucial role in South Africa’s economic landscape, driving job creation and fostering growth. However, their limited resources
SARS is stepping up its game with AI-enhanced audit capabilities, causing headaches for taxpayers. Compliance status doesn’t guarantee immunity anymore, as many are receiving unexpected
The moment someone realises they’re facing a SARS audit can be likened to the shock of being arrested – life changes in an instant. It’s
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