05/09/2023
The amendments to the Tax Tribunal Act and the Tax Procedures Act (TPA) will also grant more power to the KRA commissioner-general to go after tax cheats while taking away its powers to abandon taxes.
05/08/2023
The proposal is also sweetened by providing a specific time of 120 days for the KRA to carry out and finalise an audit for purposes of ascertaining the refund due to a taxpayer. Previously there was no time limit for the KRA audit.
05/05/2023
The Treasury in the newly published Finance Bill also deleted sections of the law that allowed the halving of value-added tax (VAT) on all petroleum products to eight percent.
04/21/2023
VAT collections feel the effect of load shedding first as sales decline, said Makhubu.
04/20/2023
He added that despite its various avenues of obtaining information on people’s economic activities, SARS still has limited capacity, especially when it comes to the informal market.
04/13/2023
The fund noted that Nigeria’s debt was projected to continue to rise.
04/10/2023
According to Tax Consulting SA, there is an advantage to being the first-mover in seeking the appropriate tax advisory.
04/05/2023
The main sources of revenue collection came from personal income tax at 35.7%, value-added tax at 25% and company income tax at 20.6%
03/30/2023
The middle-class' woes have been compounded after the Ruto administration started implementing policies to use the consumer class to cushion other segments of society.
03/27/2023
The new rules came into effect on the date of publication and, therefore, replace the ‘old rules’ promulgated in 2014 with immediate effect.
03/23/2023
The study indicated that just 3,500 individuals possess 15% of the country’s wealth, while the top 1% own 55% of the nation’s wealth.
03/21/2023
To access SARS’ new services on the phone, a taxpayer can type in a USSD string *134*7277#.
03/20/2023
Revenue generated from VAT is usually disbursed to the three tiers of government through the Federation Accounts Allocation Committee.
03/20/2023
The EB-5 requires investment in an enterprise that creates jobs for US citizens.
03/16/2023
The Kenya Kwanza administration has identified saccos as the main drivers of demand for the affordable housing programme which aims to put up 250,000 units every year
03/13/2023
Parliament warned incentive for households could strip municipalities of most of their paying customers
03/08/2023
The proposed regime will also help the KRA push traders to pay their fair share of taxes, part of a raft of measures to repair the Treasury’s coffers.
03/02/2023
“Deliberately not declaring it is effectively tax evasion, which is a crime and could lead to you having to pay a hefty fine – or even jail time for up to five years,” the CEO said.
02/22/2023
Nigeria also runs the tax as a Significant Economic Presence similar to DST but computed differently.
02/21/2023
The reality, the economist said, is that South Africa is sitting with an extremely high level of indebtedness.