Managers of Wealth Africa

US tariffs cost South African company R750 million

The US has implemented 30% tariffs on products from certain countries, including South Africa

Improved taxation systems key to reducing Libya’s dependence on oil revenues

The training aimed to enhance the Libyan tax authority’s practical knowledge of international best practices in e-taxation and strengthen their ability to set an efficient e-taxation system.

SARS extends tax breaks for major developments in Cape Town

However, a recent announcement by the Finance Minister has extended this to March 2030.

SARS announces changes for non-resident taxpayers

The taxpayer’s information will be stored and used in the subsequent year of assessment unless the taxpayer’s circumstances have changed subsequently, SARS said.

Important two-pot tax laws passed in South Africa

The National Treasury has also noted that further changes to the laws will be coming in future cycles, which could have more significant changes.

Eskom ‘triple tax’ hits South Africa

The country still has to suffer through blackouts, higher prices and new, inescapable and unaffordable fees.

SABC’s plan to profit from VAT, and Eskom’s ‘secret’ R70 billion contract

The rand was trading at 17.7050 against the U.S. dollar, up approximately 0.6% from Thursday’s close.

SARS announces eFiling change for tax season 2025

As a result, SARS’ systems experienced larger-than-expected traffic volumes, causing the eFiling system to glitch out.

Important SARS auto assessment notice for taxpayers in South Africa

In previous years, some auto-assessed taxpayers who did not agree with their assessment waited until the manual filing season to open before making corrections.

Kieswetter kissing R28 billion a year goodbye

That’s almost three times as many as seen in 2022, meaning foregone taxes in a cash-strapped country that can ill afford to lose that revenue.

Tax return warning for anyone earning more than R500,000 a year

This includes any individuals who have capital gains, foreign income, or receive dividends not subject to automatic withholding tax.

Trump imposes 30% tariffs on all SA goods

As of 1 August, but ‘separate from all sectoral tariffs’.

SARS apologises for downtime and glitches on tax day

Adding to the frustrations, tax practitioners were also unable to process income tax filing and EMP201 declarations due to the system overloads.

Godongwana warns about a wealth or ‘apartheid redress’ tax in South Africa

He also warned that any move to increase these taxes or to introduce the ones being called for would cost the economy billions.

Important information about work from home taxes in South Africa

South Africa’s Income Tax Act includes specific provisions regulating claims for working for home, and the process isn’t as straightforward as it seems.

SARS announces 2025 tax change for South African expats

SARS now requires these expats to declare themselves as being tax resident again in their tax forms—something not required before.

Federal revenue agencies face shake-up as Tinubu signs tax bills

The development, which establishes the Nigeria Revenue Service as the sole body responsible for collecting federally chargeable taxes, is expected to trigger major restructuring across the federal revenue architecture.

Tinubu to sign tax reform bills Thursday

They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.

How to turn tax deductions into retirement gains

Maximising your retirement contributions through strategic tax structuring can significantly accelerate long-term investment growth.

Taxpayers foot the bill for R97,000 toilets, and new solar power taxes slammed

On Monday, 23 June, the rand was trading at R18.10 to the dollar, R24.26 to the pound and R20.80 to the euro. Oil was trading slightly lower at $78.40 a barrel.