Managers of Wealth Africa

Tax incentives under fire again

They ‘distort’ the economy, ‘destruct’ the tax base, and are open to ‘abuse’.

SARS is coming after these taxpayers hard, legal experts warn

They warned that traders must immediately comply to avoid penalties.

‘Impose windfall taxes on thriving sectors to increase revenue’

The economic think-tank said, this measure was essential for improving the country’s revenue collection and alleviating the government’s reliance on borrowing, which was exacerbating the national debt crisis.

VAT on electricity: Govt to prioritise tax compliance, reduce inefficiencies – Abena Osei-Asare

She noted that plans by the government will be in tandem with the Medium-Term Revenue Strategy, which has been outlined by the Finance Ministry.

Systemic investigation must ensure proactive protection of taxpayer info

Representative body wants decisive action against profile hackers.

Investigation into taxpayer profile hijackings gets green light

Systemic nature of complaints warrants a review.

SARS proposes tax changes – including dealing with disputes

This proposal is to remove the requirement that a senior SARS official and the taxpayer must agree on a matter to be referred to the tax board if it does not exceed the threshold.

Big Shein and Temu tax changes hit South Africa next month

This follows some confusion over the implementation of a reported 45% VAT on imported goods, which local retailers had expected to come into effect from 1 July.

Why government is the big winner with new two-pot retirement system coming next month

The remaining funds will stay invested, and access to these funds will only be permitted after retirement or upon resignation, as per the current legislation.

Nigeria: Customs begins implementation of tax waiver on food items next week

Mr Adeniyi attributed the delay in the implementation of the tax waiver after President Bola Tinubu’s directive to the late release of guidelines from the Federal Ministry of Finance

SARS clarifies retirement fund tax changes for 2024

The retirement fund changes are among a host of other changes in effect for the 2024 tax season, including pro-rata deductions for tax-free savings, the solar tax rebate, and redesigned tax forms.

Your bank account isn’t safe from SARS

Tax Consulting SA looked at how taxpayers can ensure that this never happens to them.

Big VAT and tax changes for South Africa

Ramaphosa said the Government of National Unity will look to expand the basket of essential food items exempt from VAT.

The informal sector workers who save taxpayers R750 million a year

Some rummage in search of necessities, while others collect and sell recyclables to waste middlemen or businesses.

SARS double blow for taxpayers in South Africa

As a South African resident taxpayer, all primary or secondary income must be disclosed to SARS.

Nigerian Banks incur N575.168 billion in taxes in 2023 as FG plans 50% Windfall tax

These banks are Access Holdings, FBNH, FCMB, Fidelity, GTCO, Jaiz Bank, Stanbic IBTC, Sterling Bank, UBA, Wema Bank and Zenith Bank.

Scrap 17.5 per cent VAT on immovable properties – GREDA demands

So how do you expect us to be your agent of tax collection and you don’t involve us in the guidelines?

Tax season is officially open – how to file a tax return, and what’s changed for 2024

In some cases, the process may result in a refund to the taxpayer—in other cases, taxpayers might be liable for additional tax payments to SARS.

What some of South Africa’s biggest companies pay in tax

If they are reported, indirect taxes will also be looked at.

R200 prepaid electricity tax changes coming – with a big catch

Speaking to Newzroom Afrika, he has now clarified that the review is unlikely to remove the charge entirely but rather find a way for the city to meet residents “halfway”.