Managers of Wealth Africa

Taxpayers in South Africa warned to check their banking details before next week

SARS commissioner Johnstone Makhubu noted earlier this month that the revenue service is expecting to issue in excess of 6 million auto assessments in 2026.

VAT gains lift FAAC revenues to record high

This marks the highest allocation for as far back as we can track, highlighting the progress in revenue mobilisation, supported by the positive impact of recent fiscal reforms.

ConCourt slams door on zero Vat for second-hand gold

This means most second-hand gold is subject to the usual value-added tax rate of 15%, closing off a loophole that has been in place for decades.

Extra R21,900 per month ‘tax’ for South Africans who earn over R1 million

In response to a Parliamentary question, Finance Minister Enoch Godongwana said South Africa has a highly progressive personal income tax system.

Major VAT win for SARS

The matter involved Lueven Metals, a company that trades in and refines precious metals, including gold.

Allan Gray’s message about tax-free investments in South Africa

The increase in the annual contribution limit for TFIs is the first since 2021

Extra R9,300 per month ‘tax’ for the average person living in South Africa

One of the biggest contributors is VAT, which applies to a wide range of goods and services purchased daily.

Surprise tax bill for these South Africans

As a result, there have been many instances where previous tax assessments were revised to reflect the implications of taxpayers ceasing to be tax residents.

SARS announces dates for tax season 2026 – when to expect auto assessments

Non-provisional taxpayers are those who earn a regular salary or wage from an employer and whose PAYE is already deducted throughout the year.

Tax relief for homeowners living in Cape Town

Under this proposal, the first R620,000 will be exempt from rates, up from the current R450,000 exemption for the 2025/2026 financial year.

Africa can raise $469bn without tax hikes – AfDB

He said the additional revenue could be mobilised without increasing tax rates, stressing that stronger domestic resource mobilisation remained the most sustainable source of development financing for the continent.

Kenya’s mobile money tax plan draws sharp industry backlash

Treasury says this move is intended to broaden revenue collection as digital payments account for a growing share of commercial activity across the economy.

AI and data sharing fuel rise in African tax disputes

Companies urged to be ‘defence-ready’ as disputes intensify.

SARS nails taxpayer with maximum 200% penalty

The case was notable not only because of the findings of the Tax Court in SARS’ favour and the massive 200% penalty applied, but also because of the timing.

SAPVIA warns about a blanket solar tax in South Africa

In an interview with Classic Business, she said SAPVIA has repeatedly warned against imposing broad tariffs across the solar value chain.

Kenya Plans Taxes on Phones, Banking Fees to Raise $1 Billion

Mobile phone imports would attract a 25% excise duty, while banking and transaction service fees would be subjected to a levy

Warning for anyone earning more than R500,000 in South Africa

Under South African law, submitting tax returns is compulsory, and failing to do so is a criminal offence.

These taxpayers don’t have to file a tax return in 2026

Every company or juristic person resident in South Africa during the 2026 year of assessment that earned an income or traded typically has to submit an income tax return.

Old Mutual sends warning over unseen tax in South Africa

From rising fuel prices to further inflationary increases, Old Mutual’s experts have been warning consumers about what is increasingly being described as the “unseen tax” on everyday living.

How Global Financial Networks Help KRA Track Tax Evaders

That tax authority then shares the information with KRA, and this automatic exchange happens every year without KRA needing to launch a formal investigation.