Suspended SA Revenue Service (SARS) commissioner Tom Moyane might have violated the tax body's internal policy on conflict of interest when he allowed his "friend" Hlengani Mathebula to join the institution while serving on the board of BMW SA.
Taxpayers who do not submit their tax returns will end up with a criminal record, the South African Revenue Service (SARS) said on Monday.
The South African Revenue Service (SARS) will continue to apply normal income tax rules to cryptocurrencies and will expect affected taxpayers to declare cryptocurrency gains or losses as part of their taxable income.
Data from the SA Revenue Services (Sars) yesterday showed that the country’s trade surplus decreased to R8.9billion in July from a downwardly revised R10.5bn surplus in June, as both imports and exports showed significant declines.
The South African Revenue Service (SARS) today releases trade statistics for July 2016 recording a trade balance surplus of R5,22bn. The cumulative trade balance surplus (01 January to 31 July 2016) of R17,40bn is an improvement on the deficit for the comparable period in 2015 of R24,67bn. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS).
The Rand has dropped to the lowest level in three weeks in the hours since the Daily Maverick broke the news that the Hawks are once again setting their sights on arresting Pravin Gordhan and four other South African Revenue Services (SARS) officials linked to the alleged SARS “rogue unit.” The five have been ordered to report at the Hawks in Pretoria at 10am on Thursday for warning statements. This issue has been simmering since Gordhan was reinstated as Minister of Finance in December last year, after the President fired then Finance Minister Nhlanhla Nene, a move which derailed the SA economy for at least six months and has cost the country billions.
Strange as it may seem, some people have been receiving phone calls from private debt collecting companies urging them to pay their taxes. It seems like a hoax, until the person on the other side of the line mentions your tax number, which particular tax returns are due, and even how much tax is owed to the South African Revenue Service (SARS).
Time is running out for South African taxpayers who have not yet disclosed their overseas assets, according to Ilsa Groenewald, Associate Director for tax at the Durban office of BDO South Africa, the audit, advisory and tax firm.