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A Recap on Provisional Tax
2021 - 2021-04-06

A Recap on Provisional Tax

For all individuals and the majority of companies in South Africa the much dreaded second provisional tax return is due at the end of February which is fast approaching. Here are some basic principles to bear in mind when attending to your provisional tax return for this period.

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Termination of the tax residence of a company: shareholders beware
2021 - 2020-09-22

Termination of the tax residence of a company: shareholders beware

In terms of current legislation, when a company (“ExitCo”) ceases to be a tax resident of South Africa, the following tax implications arise:

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Proposed amendments to VAT legislation: Potential impact on cross-border leases of certain assets used in SA
2021 - 2020-09-22

Proposed amendments to VAT legislation: Potential impact on cross-border leases of certain assets used in SA

In terms of the Value-Added Tax Act No. 89 of 1991 (“the VAT Act”) a person is required to register for value added-tax (“VAT”) if, broadly speaking:

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Draft tax laws amendment bill
2021 - 2020-08-18

Draft tax laws amendment bill

The 2020 Draft Taxation Laws Amendment Bill (“2020 draft TLAB”) and the 2020 Draft Tax Administration Laws Amendment Bill (“2020 Draft TALAB”) were published for comment on 31 July 2020.

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2020 - 2020-08-07

Updated Medical Disability Form (ITR-DD) Issued by SARS

Section 6B of the Income Tax Act 58 of 1962 provides for a rebate known as Additional Medical Expenses Tax Credit (“AMTC”) for qualifying medical expenses that were not covered under the taxpayer’s medical scheme or by an insurer under a medical gap cover insurance plan during the relevant year of assessment.

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2021 - 2020-07-23

Estate Planning

2020 certainly caught us off-guard. Who would have thought that we would have been in lockdown for more than 100 days or that unions, parents, government and other stakeholders would fight about whether children attending schools would be a good idea?

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2021 - 2020-07-16

Supplementary Budget Speech 2020 - Tax Overview

On 24 June 2020, the Minister of Finance, Tito Mboweni, delivered the supplementary budget speech as a result of the significant effects that the current COVID-19 pandemic has had on our economy.

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2021 - 2020-07-15

SARS Automatic Assessments for Individual Taxpayers.

The 2020 tax filing season will open in the coming months. For this financial year end, the South African Revenue Services (SARS) says it will automatically assess a number of taxpayers.

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2020 - 2020-06-25

Tax overview of the Supplementary Budget Speech – 24 June

The Minister of Finance, Tito Mboweni, delivered the supplementary budget speech today as a result of the significant effects that the current COVID-19 pandemic has had on our economy. Whilst there were no tax increases announced, it is very clear that if no action is taken to increase revenue and cut expenditure, the effect on the economy will be devastating.

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2020 - 2020-04-29

PKF International appoints Theo Vermaak as interim Chief Executive Officer

PKF International announces the appointment of Theo Vermaak as interim Chief Executive Officer of PKF International with effect from May 1, 2020.

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