
SA Revenue Service (SARS) warns taxpayers in a new series of TV advertisements that "We are closing in on you." That's a far cry from the "SARS thanks you" ads of a year ago. High taxes have resulted in 20% of fuel and 45% of cigarettes in SA being smuggled. The new ads are counter-productive, writes Loane Sharp.
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Expected amendments to tax on retirement savings due to come into effect in March next year are likely to be delayed, possibly by a year. The retirement industry is less than happy with the delays, which are reportedly caused by trade union concerns over social security, according to Personal Finance.
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A recent judgment by the Supreme Court of Appeals sets out rules for a SARS audit. This is based on a case dating back more than a decade when SARS was found to have overreached itself in dealing with a taxpayer.
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An amendment to the Income Tax Act imposes a 15% withholding tax on cross-border services rendered in South Africa, writes Graeme Palmer of Garlicke Bousfield.
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