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2 days ago · Deadline: 31 May 2024. Repercussions of Non-Compliance to Tax Season for Employers. Late submissions or non-compliance not only affects the business, it also affects the employee. If these documents are not up to date, the tax authority struggles to issue individuals with auto-assessed or pre-populated Income Tax Return (ITR12) documents.
3 days ago · The calendar includes deadlines of: 1) May 7 for pay-as-you-earn (PAYE) withholding tax filing and payment; 2) May 24 for VAT paper filing and payment; and 3) May 31 for electronic filing and payment of VAT for Category A taxpayers, and payment of estimated corporate income tax (CIT). [South Africa, South African Revenue Service, 05/03/24]
4 days ago · Following the publication of the 2020 ATAF policy brief, the African Tax Administration Forum (“ATAF”) on 4 April 2024 published a second policy…
2 days ago · ALSO READ: Sars collects R1.741 trillion in tax, R10 billion more than estimated. If a taxpayer does cease tax residency and then decides to return to SA after a few years, they will at least have ringfenced their foreign income and foreign assets from the South African tax net, says Muller.
4 days ago · Therefore, the South African taxpayer is burdened with an increasing tax bill, with no value in return. South African government services are a mess. The private sector has been the leader of South African society, from security to health and education. Yet if the government was holding up its end of the bargain, this would not be the case.
4 days ago · The facility codes used in Box 30 on the Customs Clearance Declaration (CCD) have been updated to include the details of the newly approved container depots, ISS Global Forwarding South Africa (Pty) Ltd. and Allport Cargo Services (Pty) Ltd., in ORTIA Johannesburg. UPCOMING DEADLINES 18. Annual Employer Reconciliations EMP501: 31 May 2024
2 days ago · Income Tax: South Africa has a progressive income tax system, which means that higher incomes are taxed at a higher rate. The tax year in South Africa runs from 1 March to 28/29 February the following year. Value Added Tax (VAT): VAT is levied on the supply of goods and services and is currently set at a
