Managers of Wealth Africa

Don’t let tax take you by surprise when you invest offshore

South African tax residents are required to pay tax in South Africa on their worldwide income.

Tax collections down Sh57bn on corona reliefs, low sales

The Treasury also implemented tax reliefs from April to cushion businesses and workers from the economic shocks of the pandemic, which has sickened more than 6,000 persons and killed over 140, further thinning collections by KRA.

Nigerian govt merges CAC, Tax ID registrations

Last October, the World Bank listed Nigeria among the economies with the most notable improvement in the Ease of Doing Business.

Mboweni Says S. Africa Income, Company Tax Unlikely to Rise

The Treasury, Absa and Standard Bank declined to comment. Mboweni spoke to Standad Bank clients last week and Absa clients on Monday.

African countries efficiently tackling tax evasion and money laundering

The 2020 report covers 32 Global Forum member countries, and three non-members: Angola, Guinea Bissau and Malawi.

Pension funds tax: Panic or hunt for revenues?

We focus here on the Treasury tax on retirees even National Social Security Fund (NSSF) in a hunt for revenues, and by extension the underlying weakening of an already weak financial system.

Significant progress made in fighting tax evasion and illicit financial flows in Africa - OECD

The ongoing COVID-19 crisis will completely end any tolerance towards all forms of tax evasion,” said Maria José Garde, Chair of the Global Forum

Nigeria: Clarifications on significant economic presence concept released

FA19 introduced the SEP concept into Nigeria’s Companies Income Tax Act (CITA) for purposes of determining the scope of profits of nonresident/foreign companies (NRCs) that are deemed to be derived from

Facing The Crisis: The Role of Tax in Dealing With COVID-19

In times of distress, people look to governments for information, direction and protection.

Firms smile as VAT, Paye reduced

Kenya lowered its VAT from 16 per cent to 14 per cent as proposed by the East African Business Council

The ugly truth about the existing stealth-wealth taxes in SA

Balance sheet taxes can be materially more impactful than what taxpayers are expecting.

Dennis Davis: Why a wealth tax won’t work

Right now, there’s little scope to implement new taxes, including a wealth tax.

Taxpayers to bailout KQ as it sinks into a further $130m loss, and still grounded

The airline has run short of cash to finance its operations including maintenance of aircrafts, payment of leases and employee salaries.

Mauritius: key taxation implications of the COVID-19 Act

Government has introduced a new COVID-19 Levy applicable for the years of assessment commencing on 1 July 2020, 1 July 2021 or 1 July 2022 for employers (individuals, sociétés and companies) who have benefited from the Government Wage Assist

Johannesburg tax advisor moves for Baker McKenzie and ENSafrica

ENSafrica recruited two accountants as tax executives in March.

Tax penalties waiver plan good for business

Under the voluntary tax disclosure plan, which shall run for three years with effect from January 1, 2021, the Treasury says those who declare pending liability and pay within one year shall enjoy 100 percent interest and penalty waiver.

Detectives on trail of possible Sh5 billion tax evasion racket in mobile phone theft

The DCI sleuths and customs officials from the Kenya Revenue Authority are now seeking to establish if the owners were deliberately under-declaring the consignments or smuggling taxable products.

Here’s how South African tax residents and non-South African tax residents are taxed differently

South African tax residents and non-South African tax residents are taxed differently. South African tax residents are required to pay tax on income earned in South Africa and overseas.

Debating a wealth tax: 'It raises a moral question in SA's unequal society'

Africa Melane gets input from Judge Dennis Davis, chairperson of the Davis Tax Committee.

‘Unpeople’ and ‘Unmoney’: An activist counts the costs of the ‘uncounted’

The sheer scale of the problem is by its very nature hard to quantify.