PKF South Africa

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COVID-19 - 08 06 2020

Lockdown’s impact on your business!

PKF South Africa conducted a short survey, aimed specifically at the SME market, in order to better understand the facts behind all the speculation, and with the view to provide a voice for owner-managed businesses throughout South Africa.

COVID-19 - 22 05 2020

Lockdown and the impact on the entity’s internal controls

With the country slowly getting used to the new normal, many entities are accepting the reality that business as usual may not return in the foreseeable future. As many businesses enact crisis management and business recovery plans, they are caught in deciding on whether to divert financial reporting and internal control efforts toward more operational matters.

COVID-19 - 30 04 2020

COVID 19 Relief Summary

As level five of lockdown nears its end, we feel it necessary to give a summary of the relief options available to your business and employees to ensure you are making the most of the relief available to you.

COVID-19 - 24 04 2020

National lockdown: are there tax implications if you remain in SA for an extended period of time?

The Draft Disaster Management Tax Relief Administration Bill (the “Draft Bill”) was released for public comment on 1 April 2020.

COVID-19 - 24 04 2020

Impact of covid-19 on proposals to limit the use of assessed losses

In terms of current law, where the permissible tax deductions of a company exceed the company’s income during a year of assessment, an assessed loss may arise. The company is, in certain instances, permitted to carry forward such assessed loss to the next year of assessment for purposes of offsetting the same against taxable income in the succeeding year of assessment.

COVID-19 - 22 04 2020

The consequence of non-payment at the end of April

In the next two weeks, many businesses are going to have to make tough decisions on which creditors to pay. Some of these payments are by debit order, even though one might consider them deferrable, they will be paid automatically. In the end, as is common with businesses in a cashflow crunch, the final choices will be between net salaries to staff, PAYE and VAT.

COVID-19 - 22 04 2020

A R500 billion economic support package for SA

President Cyril Ramaphosa has announced a R500bn economic support package for SA. Here is how it makes a difference to your business: Last night (21 April 2020), President Ramaphosa announced an economic support package amounting to 10% of South Africa’s GDP.

COVID-19 - 22 04 2020

COVID 19 TERS Programme – Employer guidance

On 26 March 2020, South Africa went into lockdown. As part of the regulations enacted by President Ramaphosa in terms of the Disaster Management Act, all non-essential businesses were required to cease trading.

COVID-19 - 22 04 2020

The Impact of COVID-19 on the motor retail industry in SA.

We’re about halfway into our lockdown in South Africa. As the dust starts to settle on parked cars at closed dealerships and the reality of economic hardship starts to set in, we see some very worried dealer principals and motor vehicle franchisees.

COVID-19 - 22 04 2020

Positive leadership in a time of crisis

Today, more than any other time in recent history, it is time for leaders of organisations and businesses of all sizes to lead with positivity. I have seen a range of reactions to the COVID-19 pandemic and specifically the announcement of South Africa’s 21 day lock down. These varied from what I consider to be totally reactive and knee-jerk measures to protect shareholder profits, to balanced, considered responses which focus on all stakeholders, and critically, the people of the organisation.

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