Managers of Wealth Africa

Ending tax revenue leaks needs action, not threats

The current punitive measures are not harsh enough.

Company Income Tax increases by N97.05bn in Q1, 2021- NBS

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.

The right tools you need for your small business according to Sage

Bishop is responsible for growing, developing, and enabling Sage’s regional network of business partners, accountants and strategic alliance partners

Another growing threat for taxes in South Africa: SARS

"It has become a serious constraint to revenue growth and will cause further strain on government to increase spending on social benefits.”

How easy is it for the MRA to lift the corporate veil to recover taxes?

Part of "Tax Mind": A collection of thought provoking content for tax professionals.

Worries over new tax will push wealthy South Africans to emigrate

Similarly, experts at the University of the Witwatersrand in Johannesburg have suggested establishing a progressive wealth tax for those earning above R3.6 million which accounts for 354,000 high-earners in the country.

Speculation on Wealth Tax Could Contribute to Further Emigration of South Africa's Wealthy

Similarly, experts at the University of the Witwatersrand in Johannesburg have suggested establishing a progressive wealth tax for those earning above 3.6 million rand which accounts for 354,000 high-earners in the country.

How South African HNW tax unit will impact financial advice

A wealth tax was widely rumoured, but will a taskforce targeting the rich achieve the same goal?

Tax, costs ‘bigger threat to businesses than Covid-19’

“Businesses were also concerned about the effects of the third wave of the Covid-19 pandemic, particularly the success or otherwise of the vaccine rollout and the general decreased economic activity due to the pandemic.”

Bond, tax payments drain market liquidity

The rate at which banks lend to each other on emergency basis is a good indicator of liquidity levels in the money market, going up when liquidity tightens and falling when the market is flush with shillings.

A new dispensation and a potential retirement fund tax bomb for emigrants from South Africa

All new emigration applications from 1 March onwards will be processed by the South African Revenue Service (SARS) in terms of a new procedure which will focus on the cessation of tax residence by a South African resident.

Tax evaders should consider if evasion is still worth the risk

The growing chances of being caught point to Sars getting ever more sophisticated with masses of data and global co-operation

Treasury pledges to IMF Covid cash audit release

This was amid coronavirus-induced contraction in economic activities.

Survey: 47% of Financial Services’ Organisations Do Not Have Tax Policy

The majority of organisations surveyed, especially in the banking sector, either had a fully-fledged tax function

April tax deadlines you need to know about

SARS said that the payroll data is of vital importance, as it gives a reconciled account of what amounts of tax the employer deducted from the taxable remuneration of each of its employees.

Taxes: Govt gains more from public quotation

Extant rules at the stock market require quoted companies to submit their audited report and accounts not later than 90 days after the end of the relevant business year.

A new dispensation and a potential retirement fund tax bomb for emigrants from South Africa

The wording of the proposal is unclear and no definitive date for implementation of the proposal is provided.

South Africa High Court rules on its power to review tax authority actions

The dispute arose from SARS’ allegation that the taxpayers were part of an impermissible tax avoidance arrangement to evade tax liability.

Illicit financial flows and tax havens are sabotaging countries’ development goals

Among the biggest constraints for countries striving to achieve the SDGs is the lack of financial resources.

Tax exemptions on capital gains now permanent

The renewals were to ensure that the gains made by investors in listed companies were not taxed.