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PKF Cape Town

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2015 - 14 Dec 2017

Will SARS allow you to deduct your Company/Close Corporation’s assessed loss?

Under normal circumstances SARS will allow a taxpayer to carry forward the previous tax year’s assessed loss and set it off against the current tax year’s taxable income. However, there are certain circumstances under which SARS will not allow a taxpayer to carry forward the previous year’s assessed loss and the assessed loss will be lost for set off against future taxable income as well.

2017 - 28 Nov 2017

Ctrl+Alt+Del

Dit is weereens daardie tyd van die jaar, die tyd wanneer ons ‘n bestekopname neem van wat ons hierdie jaar gedoen en bereik het! In die nuutse weergawe van Wilgenhof se nuusbrief aan Oud-Wilgenhoffers gebruik die Inwonende Hoof, Daniel Malan, die alombekende term “Ctrl+Alt+Del” in sy rubriek. Ek het tot die besef gekom dat ons elkeen dit in hierdie tyd van die jaar op ons eie lewens moet toepas. Hierdie term is alombekend aan elke rekenaar gebruiker, indien jy dus nou hierdie artikel lees sal dit vir jou bekend wees, aangesien hierdie nuusbrief slegs elektronies versprei word.

2017 - 28 Nov 2017

Country by Country Reporting and Transfer Pricing

SARS issued a public notice on 20 October 2017 which stipulates the requirements and timeframes for Country-by-Country Reporting (“CbCr”) transfer pricing documentation (master file and local file).

2017 - 28 Nov 2017

BELASTINGKLARINGSERTIFIKATE

Die SAID kan gekontak word om vir verskeie redes belastingklaringsertifikate aan belastingbetalers uit te reik. Dit sluit in 'n algemene bevestiging dat die betrokke belastingbetaler se sake in orde en op datum is ('n sogenaamde "Good Standing" belastingklaringsertifikaat). Die ander rede vir ‘n belastingklaringsertifikaat is normaalweg indien dit vereis word ten einde aan sekere regeringstenders deel te neem.

2017 - 28 Nov 2017

Dividend Tax Returns

With effect from 1 April 2012, dividends tax was introduced to replace the then “secondary tax on companies” (or “STC”). The tax is currently levied at 20%. The dividends tax regime brought with it a requirement for dividends tax returns to be submitted periodically (if even no liability for dividends tax arose) and we wish to bring to our clients’ attention when this would be required.

2017 - 04 Oct 2017

GONE ARE THE DAYS OF TAX-FREE SALARIES ABROAD

Many South African taxpayers earning a salary abroad have for many years been able to benefit from so-called “double non-taxation”. This would be the case where salaries are earned in countries where the employer country would not tax salaries earned in that country, and where a domestic South African income tax exemption would also be available to such South African employees. The UAE for example is renowned therefore that it levies very little, if any, taxes on non-resident employees employed in that jurisdiction. This regime interacts quite well with the South African exemption from income tax provided to South African employees working abroad and in terms of which South Africa would in many cases also not levy income tax on salaries so earned abroad. In other words, a salary earned abroad may potentially not be taxed in either the country of source or residence (i.e. South Africa).

2017 - 04 Oct 2017

VERDERE WYSINGS RAKENDE DIE BELASTINGGEVOLGE VAN RENTEVRYE LENINGS AAN TRUSTS

Ons het in ‘n vorige Nuusbrief aan u ‘n uiteensetting gee van die vereistes van artikel 7C van die Inkomstebelastingwet, 58 van 1962. Die doel van hierdie artikel is om rentevrye lenings met verbonde partye tot ‘n trust te reguleer.

2017 - 04 Oct 2017

EXTENTION OF LEARNERSHIP ALLOWANCES AND EMPLOYMENT TAX INCENTIVE

With the focus on skills development and job creation, the existing allowance for learnership agreements has been extended to all agreements entered into before 1 April 2022. Similarly the Employment Tax Incentive (ETI) has been extended to 28 February 2019.

2017 - 04 Oct 2017

THE VAT CONSEQUENCES OF CHANGE IN INTENDED USE OF GOODS

Die BTW vereistes rakende ‘n verandering in die aanwending van bates het onlangs weer onder my aandag gekom, ons het dit dus goed gedink om elkeen weer hieroor in te lig.

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