06/20/2023
The same sentiment was directed towards healthcare workers, and he proposed that Godongwana consider an exemption from pay-as-you-earn tax (PAYE) for all healthcare workers up to a certain level.
06/19/2023
But the Kenya Kwanza administration has put the effective dates of most taxes next month, as it eyes money to fund the Sh3.68 trillion budget.
06/16/2023
The increase comes as taxes paid by manufacturers to the Federal Government rose by 60 per cent to N839.6 in 2022 from N524bn recorded in the prior year.
06/15/2023
It is also seeking to introduce a 16 percent value-added tax (VAT) on petroleum products from the current 8.0 percent.
06/15/2023
The bill still has to make its way through the National Council of Provinces before being sent to the president to be signed into law.
06/14/2023
The bill proposes a myriad of tax increments and new levies in efforts to increase revenue
06/14/2023
Tax Consulting SA provided some examples of these misconceptions, and the reality of the situation.
06/14/2023
According to the Federal Government, this revenue source will help it meet and ensure the sustainability of its obligations to multilateral organisations.
06/14/2023
The taxman’s initial demand had been disputed by the bank and an appeal lodged at the Tax Tribunal through the services of a tax consultant.
06/12/2023
“On a year-on-year basis, Net Taxes on Products grew in real terms by 10.30 per cent in Q3 of 2022, and 11.18 per cent in Q4 of 2022 compared to 6.22 per cent and 67.99 per cent in Q3, and Q4 of 2021.”
06/08/2023
The report, which is produced twice a year, assesses recent economic and social developments and prospects in the country.
06/07/2023
Since July 2022, the Federal Government has tried, many times, to implement a five per cent excise duty on telecom services to boost revenue generation.
06/06/2023
The judge ruled that the tribunal erred by relying on the definition of interest in the ITA to conclude that the said fees charged by the lender in respect of the transactions were interest and thus exempt from excise duty.
06/01/2023
Tax collection rates have hovered between 5%-6% of gross domestic product over the past 12 years
06/01/2023
The new penalties for single returns outstanding will rake in R243 million for SARS over just four-and-a-half months – a lot more than the R138 million in penalties imposed so far this year for multiple returns outstanding.
05/30/2023
“The correct data is important so that SARS may pre-populate income tax returns and auto-assess the identified taxpayers correctly.”
05/26/2023
These taxes, it suggests, would more than double the suggested selling price.
05/24/2023
VAT is not the only tax paid on certain goods, however.
05/23/2023
These higher collections will be realised through proposed amendments to the Income Tax Act and the Excise Duty Act.
05/23/2023
VAT was introduced in September of 1991 through the VAT Act, with the goal of replacing sales tax.