09/03/2020
The taxman has hinged its aggressive action on the Tax Procedures Act, gives KRA powers to freeze tax cheats’ property transactions and ultimately auction the assets to recover the unpaid tax.
09/03/2020
There is some evidence that developing countries are harder hit by multinationals’ ability to shift profits” and have less capacity to enforce tax rules.
09/01/2020
In a bid to improve compliance, the KRA has offered waivers on tax dues accumulated for up to five years.
09/01/2020
Finance minister Tito Mboweni has said that Treasury is discussing the possibility of an inheritance tax and a so-called solidarity tax in a bid to raise additional finances.
08/25/2020
According to the former president, the deal is shady and his government will not respect it.
08/25/2020
Different types of cryptocurrencies can be exchanged for one another and passed through a series of wallets and public key addresses to attempt to confuse the trading activities and to evade taxes.”
08/25/2020
Finance Minister Tito Mboweni noted in the emergency budget announced in June, that he expected debt to GDP to exceed 100% by 2024 and reach 114% by 2028.
08/18/2020
“The tribunal agrees with the appellant’s (Co-Op Bank) submission that the Finance Act 2012 was riddled with a lot of ambiguity,” the tribunal said its ruling.
08/05/2020
Simply put, you have seven months to execute a well-planned withdrawal strategy or you will be legislatively prohibited from withdrawing your retirement for at least a very uncertain three years.
08/04/2020
As a result, funding the recovery requires innovative measures to redirect domestic savings.
07/28/2020
The NERI Report goes on to say that a wealth tax would play a strong complementary role to the extent that wealth transfer taxes
07/20/2020
Measures to bolster aggregate demand through higher public spending incentives for businesses were however derailed by the COVID-19 fallout.
07/08/2020
Shailendra Sharma discusses an interesting case whereby an indirect share transfer triggered a sale by a Mauritius entity, with assets located in India, and the capital gains tax exemption under the India–Mauritius tax treaty could not be applied.
07/07/2020
After the supplementary budget was presented, Sishi indicated that Treasury could implement tax increases of R20 billion over the next two years.
07/05/2020
Chief Director in the National Treasury Edgar Sishi told the joint committees on finance this week that plans were afoot to tax the super rich.
07/05/2020
Tax havens also have favourable regulations and general ecosystem that makes starting a business easy and profitable.
07/01/2020
South African tax residents are required to pay tax in South Africa on their worldwide income.
06/30/2020
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.
06/30/2020
Last October, the World Bank listed Nigeria among the economies with the most notable improvement in the Ease of Doing Business.
06/30/2020
The Treasury, Absa and Standard Bank declined to comment. Mboweni spoke to Standad Bank clients last week and Absa clients on Monday.