Tax on Crypto Currency not set in stone On 3 December 2014, the South African Reserve Bank issued a Position Paper on Crypto Currencies stating that Bitcoin “is a digital representation of value that can be digitally traded and functions as a medium of exchange, a unit...
South African Tax Ombudsman The office of Tax Ombudsman provides a simple mechanism for taxpayers to seek a resolution with SARS once they have exhausted all channels with the tax man. The Tax Ombudsman is an independent office that can assist taxpayers by making a judgement on: ...
Small Business Corporations SARS introduced the small business corporation to assist companies with lower income tax rates and preferential asset write off periods should certain criteria be met. The goal is to encourage and empower small businesses with lower tax rates so that the profits can...
Employee Tax Incentive SARS introduced the Employee Tax Incentive (“ETI”) to encourage the employment of young South African workers. Employer’s receive a tax incentive for each young individual that they employ under certain parameters: Younger than 30 years of age; The employee holds a South African...
A recent study by Counterpoint has shown that Huawei has surpassed Apple to become the second largest phone manufacturer in the world after Samsung. For those who are still unfamiliar with Huawei, it is the largest Chinese phone producer and has recently expanded its enterprise into...
Below is an article from SARS that outlines all the ins and outs of eFiling (link). What is eFiling? SARS eFiling is a free online process for the submission of returns and declarations and other related services. This free service allows taxpayers, tax practitioners and businesses to register...