Managers of Wealth Africa

New alcohol, SIM card taxes rock Parliament

The proposals, if adopted, will see the tax on a litre of beer rise 23.1 percent to Sh150 from the current Sh121, which will increase the price of a bottle of beer by Sh15.

South Africa faces another ‘incompetence tax’ – what you should know

South Africa subsequently met the criteria for a FATF International Co-operation Review Group review

G7 countries cost the world $115 billion in lost tax – African finance ministers call for a UN tax convention

Three G7 countries ranked among the top 10, with the US in 1st, Japan in 6th and Germany in 7th.7

'Another tax on incompetence' - Ninety One CEO warns of dire consequences if SA joins grey list

The Financial Action Task Force has warned South Africa that it needs to improve the prosecution of financial crimes in the country if it wants to avoid the list and join the likes of the Cayman Islands, Panama and Morocco.

KPMG SA roped in to clean up Ubank’s balance sheet as bank is placed in curatorship

Governor of the Reserve Bank Lesetja Kganyago said Ubank has had significant challenges over the years.

A big pensioner tax change has hit South Africa

These different sources of income are added together at the end of the tax year to calculate the correct tax that must be paid.

Does tax residency status impact your ability to receive an SA inheritance?

Expatriates will need to show proof of their non-tax residency and compliancy status.

What transfer pricing could mean for your African business

Transfer Pricing (TP) principles have always been firmly in place but have recently been formalised with legislation.

More South African taxpayers are moving to this centrally-located island near Europe

Additional recommendations that appear to be aimed at ensuring consistency with the HNWI Unit include provisional taxpayers with business interests now being required to submit their assets (at cost) and liabilities in their tax filings each year.

Carbon Tax: does it impact the financial services industry?

Having signed the Paris Agreement in 2016, South Africa has undertaken to reach a goal of net-zero carbon dioxide emissions by 2050.

How should phantom share plans be taxed?

The relevance of which provision should apply in relation to the timing of the tax event is that, in terms of section 8C the tax event occurs when the “equity instrument” is deemed to vest

Renegotiations of double tax agreements take time

Our current international reputation does not help.

Auditors’ duties to report reportable irregularities: make sure you get it right

The IRBA is a statutory body established in terms of the APA.

Ramaphosa sends message to taxpayers in South Africa

The president cautioned that SARS will be ramping up its capacity to target those taxpayers who are not compliant.

Experts warn that a wealth tax in South Africa is coming

SARS intends to go after ‘unexplained wealth’, and has proposed that all provisional taxpayers with assets above R50 million be required to declare specific assets and liabilities at market values in their 20203 returns.

Rwanda ratifies its DTT with China, creating fail-safe tax structuring opportunities for EPC companies

To begin with, the DTT with China, in its article 7, adopts the functionally separate entity approach.

Tax ceiling proposed for South Africa

Higher tax revenues mean a country is able to spend more on improving infrastructure, health, and education – keys to the long-term prospects for a country’s economy and people.

South Africa could announce an ‘alternative’ VAT hike next week: experts

“We already have two VAT rates, so it is theoretically possible to have two-five different rates depending on the types of goods or services purchased,”

How many people are on grants in South Africa vs taxpayersw

Civil rights groups and academics have been calling for a permanent basic income grant.

Tax Professionals Reject Bill Seeking ICAN’s Regulation of Taxation

Present at the Public Hearing of the House of Representatives Committee on Finance were officials from CITN, Institute of Chartered Secretaries and Administrators