by WVDW | Apr 5, 2024 | Business, Individual, Tax Risk Insurance
There have been fraudulent actions on e-filing in the past few months. It does seem that these activities originate from within SARS, but SARS obviously categorically denied it. Emails or SMS alerting taxpayers to the requirement to authorise a change in their...
by WVDW | Mar 18, 2024 | Business, Individual, Tax Risk Insurance
Your tax filings not proceeding as smoothly as you had hoped for? Do you have further accounting, investment and tax related queries, please contact our offices for assistance. 011 476 1112info@wvdw.co.za WVDW #WVDWFinancialServices #bookkeepers #accountants #Director...
by WVDW | Jan 30, 2024 | Individual, Tax Risk Insurance
The South African Revenue Service (SARS) has a wealth of data about taxpayers, as evidenced by a recent High Court decision. The SA Revenue Service triumphed in CSARS v. M after SARS questioned a taxpayer about a discrepancy between what was on their tax...
by WVDW | Nov 24, 2023 | Tax Risk Insurance
2023 was a challenging year, but also a year of triumphs. In February 2023, the FATF (Financial Action Task Force) grey-listed South Africa. As a result, FICA obligations and compliance was enhanced, and accountable institutions strongly advise and encouraged to...
by WVDW | Oct 13, 2023 | Tax Risk Insurance
The SARS VAT invoice requirements Registering as a VAT vendor with SARS may seem daunting as it brings about new regulations that an entity needs to comply with. Let’s look at the SARS VAT Invoice Requirements to ensure you have all the correct information on...
by WVDW | Sep 27, 2023 | Tax Risk Insurance
Turnover tax is a simplified system aimed at making it easier for micro business to meet their tax obligations and is for micro business with turnover below R1 million. This tax system replaces Income Tax, VAT, Provisional Tax, Capital Gains Tax and Dividends Tax. A...
by WVDW | Sep 14, 2023 | Tax Risk Insurance
With the deadline of the submission for normal taxpayers coming up, we would like to draw attention to what personal income tax entails. The tax deadlines for the submission of personal income tax are: Individual taxpayers – 23 October 2023 Provisional taxpayers – 24...
by WVDW | Aug 23, 2023 | Tax Risk Insurance
“Many think that by merely not living in South Africa currently, they are therefore not a tax resident of SA. This is an extreme over-simplification and has got many in trouble with SARS in the past.” What is financial emigration at SARS? The process of Financial...
by WVDW | Aug 14, 2023 | Tax Risk Insurance
In the Johannesburg Specialised Commercial Crimes Court, Anwar Gaffor and his company, Ceiling and Partitioner Installers (PTY) Limited, were charged with three charges of fraud. The accused submitted fraudulent Value Added Tax (VAT) 201 returns to the South African...
by WVDW | Aug 3, 2023 | Tax Risk Insurance, Trusts
The administration of a loved one’s estate might become much more traumatic if you are unprepared for the practical realities of death. Because systems need time to restart, load shedding makes the winding-up process more drawn-out, laborious, and bureaucratic....
by WVDW | Jul 20, 2023 | Tax Risk Insurance
Author: Marianne Steinmann Taxpayer Rights and Obligations You have a RIGHT to:You have an OBLIGATION to:• Clarity and certainty (to be informed) of obligations to SARS• Timeously engage, register...
by WVDW | Jul 14, 2023 | Tax Risk Insurance
Author: Marietjie Esterhuizen There is often the confusion around the different taxes, today we will focus on provisional tax. What is it? It is not a separate tax form income tax. It is a method of paying your (or your company’s) income tax liability in advance, to...
by WVDW | Jun 28, 2023 | Tax Risk Insurance
The South African Revenue Service (SARS) will open the 2023 tax filing season on 7 July 2023 for taxpayers to submit their income tax returns for the 2023 tax year. Aut0-assessments commence end June 2023. Timing 30 June 2023 SARS will start issuing auto-assessments...
