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2018 - 31 07 2018

CLAIMING VAT INPUT CREDITS IN RESPECT OF SECOND-HAND GOODS ACQUIRED

In certain circumstances a VAT vendor may deduct a notional input tax credit in respect of “second-hand goods” acquired from non-vendors where no VAT is actually payable to the supplier.

2018 - 31 07 2018

KAN DIE SAID GEBRUIK MAAK VAN INTERPRETASIENOTAS IN DIE INTERPRETERING VAN WETGEWING?

Daar bestaan ‘n praktyk waarvolgens die SAID sekere Interpretasienotas uitreik met die doel om meer duidelikheid te gee aan die toepassing van spesifieke wetgewing. In ‘n onlangse saak was die Konstitusionele Hof vereis om die laat indiening, van ‘n verlof tot appèl teen ‘n uitspraak van die Hoogste Hof van Appèl, te oorweeg. Die Konstitusionele Hof het die applikant se beswaar oorweeg dat die Hoogste Hof van Appèl nie moet staatmaak op die Interpretasienotas, soos uitgereik deur die SAID, nie.

2018 - 31 07 2018

UNDERSTANDING THE HISTORY AND RATIONALE FOR EXCHANGE CONTROL

South African residents are subject to exchange controls with the effect that they may, inter alia, not freely transfer South African assets offshore. Exchange control rules are not embodied in a single body of law or statute and it is therefore often difficult for a person to understand why they should be subject thereto.

2018 - 25 05 2018

ATTENTION VAT VENDORS: THE VAT RATE INCREASE AFFECTS YOUR APRIL VAT RETURNS

As you are aware the increase in the VAT rate from 14% to 15% affects your April VAT returns. Please note that for March/April VAT 201 returns, for Output tax, the following applies:

2018 - 25 05 2018

Non-compliance with Laws and Regulations (NOCLAR) – Whose problem is it?

The NOCLAR standard was recently released by the International Ethics Board for Accountants (IESBA).

2018 - 22 05 2018

Karien Theron

Karien Theron joined PKF Cape Town (previously known as Rademeyer Wesson) in 2014.

2018 - 16 05 2018

Cryptocurrencies – what are they talking about?!

If you follow the media you would’ve noticed that cryptocurrency and blockchain has been the hot topic in the media the past year. It is a concept that few truly understand and it could change the future for everyone in a major way.

2018 - 16 05 2018

Geldige BTW fakture

Ten einde insetbelasting te kan eis vanaf die Suid-Afrikaanse Inkomstediens (SAID) moet fakture ontvang vanaf verskaffers voldoen aan die vereistes van ‘n geldige BTW faktuur. Alle besighede wat geregistreer is vir BTW moet die nodige aandag skenk aan fakture wat ontvang word. Met die verandering in die BTW koers van 14% tot 15%, het BTW onder die soeklig gekom.

2018 - 16 05 2018

Extending the application of CFC Legislation to foreign companies held by foreign trusts and foundations

South African legislation has for many years contained anti-avoidance provisions in the form of controlled foreign company (CFC) rules which effectively taxes South African residents on their percentage of income of a CFC. A CFC is defined as any foreign company where more than 50% of the participation rights (equity and voting rights) are held by one or more South African residents.

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