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21 February 2019

Delayed VAT refunds by SARS impacts many taxpayers, especially their cash flows. The Minister today announced that SARS decreased its credit book from R41.8 billion to R31 billion through paying overdue VAT refunds by end of January 2019. Although a substantial amount of outstanding VAT refunds...

20 February 2019

The Finance Minister announced an increase in the general fuel levy by 15 cents per litre and the RAF by 5 cents per litre, with effect 3 April 2019. From 5 June 2019, a carbon tax of 9 cents per litre on petrol and 10 cents per litre on diesel, will be introduced. The carbon tax will not be...

20 February 2019

The proposed amendments to VAT on electronic services, effective 1 April 2019, raised a few concerns. They widened the definition of electronic services and pulled electronic services between group companies into the VAT on electronic services net. This would have resulted in a non-resident...


Articles: Property gets a positive boost post budget speech

20 February 2019

Property may have received less airtime than some may have hoped for, but the Budget contained some positive take-aways.

20 February 2019

Treasury (and SARS) proposed several mitigating procedures to curb several Customs and Excise evasion areas. SARS started redrafting the aged Excise Duty legislative framework to align it with international norms. SARS will engage representative industry bodies and government to contribute to the...

20 February 2019

In line with Mr Ramaphosa’s commitment to attract foreign direct investment (FDI) through, amongst other things, making South Africa more business-friendly, the revision of anomalous provisions of certain tax incentives, aimed to promote investment, is welcomed.

20 February 2019

This was a pragmatic approach to a current fiscal problem and I think the Minister dealt with it in a methodical way, not through ”Knee jerk” tax increases, but rather relying on inflation to increase the tax income, with the rebate sweetener.

20 February 2019

In line with expectations Finance Minister Tito Mboweni did not increase tax rates for income tax, Vat and capital gains tax. For the first time in many years, tax rates have remained unchanged from prior years and the only relief available to individual taxpayers has been a very small increase...

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