Are your financial records ready for SARS scruitiny? A recent Tax Court case highlighted the consequences of poor record-keeping, invalid tax objections, and non-compliance. SARS’s ability to gain direct access to financial records led to an R87.4 million tax liability and a 200% penalty. This case is a wake-up call for businesses and tax practitioners—understand your obligations before it’s too late!

Understanding VAT registration can be complex, especially with the possibility of Automatic VAT registration by SARS. Our article breaks down the three types of VAT registration—Voluntary, Compulsory, and Automatic—in simple terms, helping business owners and tax practitioners navigate their obligations. Whether you're considering voluntary registration, wondering if you qualify for compulsory VAT, or dealing with an unexpected automatic registration by SARS, this guide provides the clarity you need. Learn how to manage VAT compliance, avoid penalties, and maximise tax benefits.

The Global Minimum Tax Act, 2024, has officially been signed into law, marking a major change in how international taxes are handled. This law is based on the OECD/G20 global plan to stop big companies from avoiding taxes by shifting their profits to low-tax countries. Under this new rule, large multinational companies must pay at least a 15% tax rate on the money they earn in every country they operate in. Curious about how it works and what it means for businesses? Read the full article to explore the key mechanisms and their implications for global and local tax practices!

Running a small business comes with enough challenges—don’t let taxes be one of them. Did you know that qualifying as a Small Business Corporation (SBC) could drastically lower your tax bill and speed up deductions on your assets? But here's the catch: navigating the rules can be tricky, especially when it comes to personal services and investment income limits. In this article, we break down SBC benefits in plain language, share expert tips, and use real-life examples to help you understand how to qualify. Whether you’re an accountant advising clients or a business owner looking to save, this is a must-read!

Paying professional membership fees is never easy, especially as the year ends and expenses pile up. However, did you know that with proper structuring, there are tax benefits you can claim on your CIBA membership fees? Whether you’re an employer covering fees for your team or an individual member paying out of pocket, understanding the VAT and income tax implications can help ease the financial burden. Don’t miss out on these valuable insights to make the most of your membership in 2025!

When employees travel abroad for work, they incur additional expenses for food, transportation, and incidentals. Reimbursing these costs can be time-consuming if employees are required to submit receipts and detailed records. To simplify this, the South African Revenue Service (SARS) allows employers to pay a subsistence allowance. This allowance, if paid within SARS-approved limits, is tax-free and does not require employees to submit proof of expenses for the covered amounts.

Have you got clients with cross-border transactions? Considering transfer pricing is essential for clients that transact with related parties. This article simplifies transfer pricing with clear explanations, practical examples, and actionable tips. Learn how to apply the arm’s length principle, benchmark transactions, prepare documents to protect your clients from tax disputes.

Read crucial updates from the SARS National meeting, including feedback on PBO reporting inconsistencies, beneficial ownership disclosures, and eFiling challenges. Learn about SARS' planned system improvements, clarifications on IT144 exemptions, and enhanced support for resolving practitioner concerns.

As a tax practitioner you may come across clients who earn income abroad, making it imperative to understand how foreign income is taxed. In this article we look into the responsibilities of South African tax residents, and provide practical illustration on how Section 10(1)(o)(ii) of the Income Tax Act is applied to determine the portion of the withholding tax.

VAT rules for business vehicles can be complex. In this article we look at the definition of a 'motor car' and the consequences when claiming input VAT on vehicle purchases, modifications, and maintenance. Read more for practical examples, explanations and guidance on handling VAT adjustments if a vehicle’s purpose shifts from business to private use, ensuring accurate VAT treatment and compliance.

How will the new Medium-Term Budget Policy shape the future of accounting in South Africa? From Operation Vulindlela's reforms to SARS' new strategies, discover what these changes mean for accountants and how to seize the opportunities ahead. Read the full article for insights and action points!

Tax practitioners must uphold the integrity of the tax system, but what happens when ethical lines are crossed? The recent case of Naraidu v The State shows just how severe the consequences can be. Involving fictitious VAT claims and a tax practitioner caught in the middle, the case takes us from a conviction of fraud to an acquittal on appeal. Was it reckless action or intentional wrongdoing? We highlight the key lessons every tax professional should learn from this dramatic courtroom saga.

Learn how the current tax regulations create challenges for the fast-growing telecommunications industry. This article breaks down how outdated tax rules, like Sections 12D and 11E, apply to modern infrastructure, and discusses VAT issues such as international roaming and bundled services. We also cover recent court cases involving Telkom and MTN to show how tax laws are being interpreted in this changing landscape.

The topic of companies providing interest-free loans to directors in South Africa involves both legal and tax considerations. While the Companies Act permits loans under specific conditions, tax implications like fringe benefits and deemed dividends may arise. This article outlines the important factors to consider and offers practical advice to ensure compliance and avoid potential tax consequences. Read on to gain a deeper understanding of how to navigate this issue effectively.

When clients miss their VAT registration deadlines, quick action is essential. This article outlines the steps practitioners should take, including determining the liability date, completing registration, and applying for voluntary disclosure relief (VDP). It also covers potential consequences like backdated VAT, penalties, and interest. By following these steps, you can help clients stay compliant and avoid penalties.

Advising nonprofit clients on structuring their organisations can significantly enhance financial efficiency and tax compliance. Registering as a Public Benefit Organisation (PBO) offers valuable tax benefits while serving a public cause. Understanding these advantages enables you to help clients to maximise impact and maintain their financial sustainability. Our article explains the benefits and clears common misconceptions regarding PBOs.

Whistleblowing plays a critical role in exposing corruption, fraud, and tax evasion in South Africa, but whistleblowers often face significant challenges, including retaliation, harassment, and even physical threats. Despite the legal protections offered by the Protected Disclosures Act and Tax Administration Act, high-profile cases have revealed the limitations in safeguarding whistleblowers. Accountants, in particular, are on the frontlines of identifying financial misconduct and tax evasion, balancing their ethical responsibilities with the risks involved in whistleblowing. Strengthening enforcement and protection measures is essential to ensure that whistleblowing becomes a more effective tool for promoting accountability and transparency.

It is crucial for tax professionals to know when they can charge contingency fees based on tax refunds or savings you get for your clients. Our article explains the rules from SARS, the situations where such fees are allowed and how to set up agreements to keep things clear and fair, maintaining high ethical standards.

Cyber fraud aimed at taxpayers is becoming more common, with scammers pretending to be SARS and asking for payments or personal details. Find out how to spot the red flags, protect your information, and stay safe from these scams in this easy-to-follow guide. Stay aware and protect your money.

Making the decision to withdraw a one-third lump sum from your retirement savings is more than just a financial choice—it's a pivotal moment that can shape the rest of your life. As accountants, guiding clients through this process means helping them weigh immediate needs against long-term security, understanding the tax implications, and recognising the potential risks of early withdrawal. By carefully considering these factors, clients can ensure their retirement is not only comfortable but sustainable, allowing them to enjoy the fruits of their labour without fear of running out of funds in their later years.