Managers of Wealth Africa

VAT refunds: Is an imbalance in law allowing SARS too much power?

It is welcoming to note that various stakeholders are currently engaging with National Treasury and SARS in this regard.

South Africa’s wealthy taxpayers are leaving in their thousands: CEO

This equates to 2,500 PPS clients in the last year alone – while an estimated 9,000 taxpayers in the R750,000+ tax bracket have left the country over the last two years.

‘Large and unpopular’ tax hikes the only way to fund South Africa’s basic income grant

“Narrowing the scope of the current grant to only those seeking active employment, not making it eligible for existing grant recipients, could be one such compromise.”

Banking Sector Accounts For 27pc Of Corporate Taxes

Olaka said the contribution was achieved despite the 21.2 percent reduction in corporation taxes paid by the sector in 2020 relative to 2019.

Middle East & North Africa: Handling transfer pricing disputes in MENA - The shape of water

Against this backdrop, the Middle Eastern economies are battling lower oil prices and budget deficits, which in turn increase the pressure for fiscal receipts.

4 taxes that could fund South Africa’s NHI – including 20% VAT

Solidarity further warned that borrowing money to fund this deficit should not be considered because the country already owes billions of rands and cannot afford more debt.

How Offshore Accounts in Tax Havens Are Used For Tax Evasion Through Illicit Deals

Opening accounts in these banks is as easy as breathing in and out

ENSafrica tax in brief

A company must submit its ITR14 tax return within 12 months of its financial year-end.

Retirement pot exit tax for emigrating South Africans?

It is ‘yet another move’ from the country’s revenue service to maximise income from prospective expats

Switzerland and Ethiopia sign double taxation agreement

It guarantees legal certainty and a contractual framework, which will have a beneficial effect on the further development of bilateral economic relations.

Lesotho seals tax treaty with Mauritius

It replaces a 1997 treaty that Lesotho authorities have in recent years complained of as being unfair.

Zanzibar’s new tax and residency investment scheme set to open paradise to the world

The result has been that Zanzibar has not been able to attract any notable real estate development

SARS sends letters to 275 wealthy individuals in South Africa with financial assets abroad

SARS, in February, set up the separate wealth unit to focus on individual taxpayers with wealth and complex financial arrangements

Global tax overhaul backed by 130 countries

All G20 countries, such as the US, UK China and France, did back the agreement.

‘Impossible’ NHI tax will hit South Africa hard

The FMF said that this figure would effectively be combined with funds from the private health sector to create an NHI fund which will make up 8.5% of the country’s GDP expenditure.

1.4m taxpayers yet to file returns ahead of June 30 deadline

The KRA has been processing between 80,000-100,000 filings daily, it reported Tuesday.

Avoid tax wolves in sheep’s clothing

6 things to look out for.

How a new wealth tax could work in South Africa

While South Africa is not a member of the OECD, it does adhere to numerous OECD instruments – and the findings of this report have important implications for the country.

PwC is banking on a $12bn investment to become the 'auditor of the future'

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

ENSafrica tax in brief

The taxpayer had disposed of shares in two related companies that formed part of the same group.