Managers of Wealth Africa

SARS is coming after bank accounts in South Africa, hunting for R520 billion

“It is money that SARS accepts is legally due, final and payable.

South Africa heading for a tax shock

Collectively, they earned a taxable income of roughly R690 billion and were assessed for R149.5 billion of tax.

New tax law boosts disposable income of workers– Oyedele

According to the committee’s data, 98% of workers in both the private and public sectors will experience either a reduction or a total removal of their Pay-As-You-Earn tax.

SARS is coming after taxpayers with a new weapon, leaving nowhere to hide

The proposals aim to grant the Financial Intelligence Centre (FIC) statutory power to conduct lifestyle audits.

The dtic considers ad valorem tax changes to lower car prices

May also explore ways to address the dominance of imported vehicles.

VAT reforms key to closing Ghana’s 60% compliance gap – GRA official

He explained that although VAT has been in existence in Ghana for about 27 years, multiple amendments over the years—particularly the decoupling of levies from the main VAT regime—have complicated compliance and widened the tax gap.

Experts warn informal sector may derail tax reforms

This very characteristic of informality is what experts have noted stands in the way of the implementation of the tax reforms, which went into full force this January.

Tax reforms: Workers unimpressed with marginal salary rise

The reforms further provide for reduced Pay-As-You-Earn tax for those earning up to N20m annually and exempt gifts from taxation.

SARS going after certain pension funds in South Africa

Under current tax law, such benefits can be fully exempt from South African tax in specific circumstances.

How to legally pay less tax in South Africa

With this in mind, he highlighted ways taxpayers can legally get some payback for their hard-earned money.

Over 50,000 taxpayers cut ties with SARS

A taxpayer can still be a South African citizen while being a tax resident in another or multiple countries.

LIRS fixes Jan 31 deadline for 2025 tax returns

He emphasised that the filing of annual returns is a mandatory legal obligation and warned that failure to comply would attract statutory sanctions, including administrative penalties, as prescribed under the new tax law.

Tax return warning for over 500,000 taxpayers in South Africa

Provisional tax applies to individuals who earn income that is not taxed through the PAYE system.

Tax frustration spills out into the open …

Open letter to the taxman hits a nerve, confirming systemic flaws in tax administration.

How to avoid SARS when you die

The process is much more than just drafting a will, with managing assets to optimise the various taxes applicable in the estate seen as just as necessary.

Tax incentive test case delays leave employers exposed

Over 400 employers face penalties, interest and prolonged uncertainty.

VAT cut puts GH¢6.5bn back in shoppers’ pockets as prices fall, says GRA

He explained that the changes include a reduction in the VAT rate, the removal of the COVID-19 levy, the decoupling of VAT, and higher thresholds for smaller businesses.

SARS is coming after your bank account in 2026

Higher-than-expected withdrawals under the new two-pot retirement system also contributed.

This is who pays the most tax in South Africa

In the 2024/25 fiscal year, SARS collected R2.3 trillion in gross tax revenue (R147.8 billion or 6.9% more than in 2023/24).

Anthony Joshua faces $66 million tax after blockbuster fight

US federal income tax is expected to claim about 37 percent of Joshua’s earnings, or roughly $52 million, based on top marginal rates.