SARS, in February, set up the separate wealth unit to focus on individual taxpayers with wealth and complex financial arrangements
All G20 countries, such as the US, UK China and France, did back the agreement.
The KRA has been processing between 80,000-100,000 filings daily, it reported Tuesday.
The investment in technology will deliver what PwC calls "the audit of the future" as it will be able to handle much larger volumes of data and to assess a much broader range of risks, and not just the financial metrics that auditing has traditi
"The correct data is also important, where taxpayers have to file a return, to enable them to do so with the correct information during the filing season for individuals, which starts on 1 July,” said SARS.
While in the past, expatriate income was largely exempt from taxation, from 1 March 2020, their earnings above R1.25 million are subject to tax of up to 45%.”
The NBS said that breweries, bottling and beverages generated the highest amount of CIT with N23.26 billion generated and closely followed by professional services including telecoms which generated N18.17 billion.
Bishop is responsible for growing, developing, and enabling Sage’s regional network of business partners, accountants and strategic alliance partners