05/12/2023
Warning over tax deadline hitting this month
SARS has now encouraged taxpayers to make submissions ahead of the due date to avoid last-minute challenges and potential delays that may be encountered.
Tax
05/12/2023
Rich Kenyans get helicopter tax cuts in President Ruto budget plan
The tax cuts will come as a major boost to the aviation industry
05/12/2023
State staff get tax-free benefits on asset buys
Tax experts have deemed the new proposal to be a loophole which is subject to abuse by civil servants
05/09/2023
President Ruto heavily arms KRA despite soft stance tax promise
The amendments to the Tax Tribunal Act and the Tax Procedures Act (TPA) will also grant more power to the KRA commissioner-general to go after tax cheats while taking away its powers to abandon taxes.
05/08/2023
Finance Bill 2023: Wins and losses for ordinary taxpayers
The proposal is also sweetened by providing a specific time of 120 days for the KRA to carry out and finalise an audit for purposes of ascertaining the refund due to a taxpayer. Previously there was no time limit for the KRA audit.
05/05/2023
How new taxes will hit fuel, M-Pesa charges and salaries
The Treasury in the newly published Finance Bill also deleted sections of the law that allowed the halving of value-added tax (VAT) on all petroleum products to eight percent.
04/21/2023
Big blow for VAT in South Africa as load shedding claims another victim
VAT collections feel the effect of load shedding first as sales decline, said Makhubu.
04/20/2023
This sector in South Africa is a nightmare for SARS
He added that despite its various avenues of obtaining information on people’s economic activities, SARS still has limited capacity, especially when it comes to the informal market.
04/13/2023
Again, IMF Urges Nigeria to Increase Tax, Reduce Borrowing
The fund noted that Nigeria’s debt was projected to continue to rise.
04/10/2023
Taxpayers in South Africa need to play by the rules – or else
According to Tax Consulting SA, there is an advantage to being the first-mover in seeking the appropriate tax advisory.
04/05/2023
South Africa collects $94bln in taxes in 2022/23 fiscal year
The main sources of revenue collection came from personal income tax at 35.7%, value-added tax at 25% and company income tax at 20.6%
03/30/2023
Kenya’s middle class now sitting target for tax raids
The middle-class' woes have been compounded after the Ruto administration started implementing policies to use the consumer class to cushion other segments of society.
03/27/2023
Big changes to South Africa’s tax laws – what you should know
The new rules came into effect on the date of publication and, therefore, replace the ‘old rules’ promulgated in 2014 with immediate effect.
03/23/2023
South Africans want the rich to pay more taxes: survey
The study indicated that just 3,500 individuals possess 15% of the country’s wealth, while the top 1% own 55% of the nation’s wealth.
03/21/2023
SARS has a new way to get in contact with taxpayers
To access SARS’ new services on the phone, a taxpayer can type in a USSD string *134*7277#.
03/20/2023
FG rakes in N10tn VAT under Buhari – NBS
Revenue generated from VAT is usually disbursed to the three tiers of government through the Federation Accounts Allocation Committee.
03/20/2023
Tax tips for wealthy South Africans emigrating to the US
The EB-5 requires investment in an enterprise that creates jobs for US citizens.
03/16/2023
Homebuyers financed by saccos to get tax relief up to Sh25,000
The Kenya Kwanza administration has identified saccos as the main drivers of demand for the affordable housing programme which aims to put up 250,000 units every year
03/13/2023
Municipal revenue at risk if solar tax incentive takes off
Parliament warned incentive for households could strip municipalities of most of their paying customers
03/08/2023
KRA enlists big companies to arrest wealthy tax cheats
The proposed regime will also help the KRA push traders to pay their fair share of taxes, part of a raft of measures to repair the Treasury’s coffers.