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05 03 2018

Tell us what it costs you to comply with the tax system in South Africa

SAICA, in a joint initiative with the Financial Intelligence Department of the University of South Africa (UNISA), are conducting a survey of small, medium and large businesses as well as of individuals to evaluate and compare the costs/benefits of compliance with the tax system on them as taxpayers.

26 02 2018

No further extension on the VAT claw back relief

Where a property developer constructed residential units for sale and these units are temporarily let out as a result of the adverse economic conditions the developer had to declare the output vat on a deemed supply of such units. This imposition of VAT on the deemed supply is based on the open market value of the property when the property was first let out. This resulted in unreasonably high negative cash flow consequences for property developers.

26 02 2018

Changes to Reimbursive travel expenses from 1 March 2018

Employers may elect to reimburse employees for the travel costs at a set rate per kilometre, as opposed to a fixed monthly travel allowance.

26 02 2018

A Water Shortage for South Africans and Now Tax on Sugary Beverages!

Apart from the water shortage in the Western Cape and the effect of the 1% VAT increase following the budget speech, South Africans will now be paying more for sugary drinks.

22 02 2018


The managers' of PKF (SA) held their annual conference at Glenburn Lodge Muldersdrift from 26-28 January 2018. There were two new offices in attendance being Pretoria and PKF Octagon (Johannesburg). This was the largest managers' conference held for some time with 47 delegates in attendance.

21 02 2018

2018 Budget Speech Highlights and 2018/2019 PKF Tax Guide

Finance Minister Malusi Gigaba delivered his maiden 2018 budget speech on 21 February 2018. The highlights of the tax related budget proposals announced by the Minister are as follows:

21 02 2018


There appears to be an increased focus recently by SARS in relation to tax compliance. We therefore want to highlight the below important dates again to our clients to ensure that they are always fully tax compliant. Non-compliance may lead to penalties being imposed against defaulting taxpayers, but also has wider potential implications. This includes that taxpayers may be unable to apply for a tax clearance certificate, or that SARS may be disinclined to favourably consider a request for the suspension of payment of an alleged tax debt while the taxpayer is engaged in a tax dispute with SARS.

21 02 2018


The South African Revenue Service ("SARS") recently issued a binding private ruling ("BPR") in which the income tax consequences of expenditure in respect of socio-economic development ("SED") and enterprise development ("ED") obligations were considered.

21 02 2018


Levied at 0.25% of the value of shares transferred, the securities transfer tax ("STT") is a tax often neglected and forgotten. Introduced in 2008, the tax is levied on the transfer of shares held in South African companies or the transfer of membership interests held South African close corporations. The issuing of a share is however not a "transfer" for purposes of the Securities Transfer Tax Act, nor the buying back / redemption / cancellation of a share by the company whose share it is itself where that company is in the process of having its existence terminated.

29 01 2018

Avoid Interest and Penalties! Submit your Provisional Tax Return by 28 February 2018!

A provisional taxpayer must, during every period submit an estimate of the total taxable income which will be derived in that year of assessment. Provisional tax payments must be made by natural persons on or before 28 February and 31 August each year. The South African Revenue Service ("SARS") also allows for a third "voluntary top up" or "additional" provisional payment, which must be paid on or before 28 September.

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