Managers of Wealth Africa

Important tax deadline hitting this month – what you need to know

Gilbert cautioned that taxpayers should be careful not to miss the deadline, as doing so could result in SARS imposing fines and penalties.

Sars cannot simply impose hefty understatement penalties

Particularly when a taxpayer has acted on professional advice.

FG proposes NIN, tax for foreigners

If passed into law, the new bill would see expatriates and income-earning immigrants being taxed.

A marked y/y rise in VAT revenue in Q2 ‘24

The robust y/y growth in Q2 represents the most significant y/y expansion in VAT collections for as far back as we can track.

Tax warning for complexes and gated communities in South Africa

An HOA is an association of persons formed to manage the collective interests common to all its members regarding the expenditure applicable to common immovable property.

Kenya begins national debt audit, finance minister says

During his parliamentary vetting for the post, Mbadi had promised to ensure there is more "debt accountability" to help the public better understand the issue

Warning over ‘hidden’ two-pot tax pain in South Africa

While a lot of noise has been made about the direct tax implications of making withdrawals from the system, Paul Menge, an actuarial specialist at Momentum Investo has warned of the ‘hidden’ tax implications.

SA’s work visa reform plans slowed by tax issues

There is just a tax-related matter that needs to be addressed in the regulations: Home Affairs Minister.

SARS scores massive retirement fund payday

SARS received an average of 17,964 tax directive applications a day.

Calls for another tax and exchange control amnesty to help close tax gap

Concerns raised about rigidity of current voluntary disclosure programme.

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