Category Archives: News

SARS extends opening hours for tax season deadlines

Taxpayers worrying about the tax season deadline drawing  ever closer can breathe a sigh of relief, after SARS (South African Revenue Service) announced on Wednesday that it would extends its operating hours for the next two weekends. “The SARS branch offices will extend working days to Saturdays for the next two weekends – 14 and 21 November – in anticipation of an increase in number of taxpayers who will file their returns,” said SARS spokesperson Sandile Memela on Wednesday. Ahead of the November 27 tax…

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Treasury will not budge over carbon tax

Treasury will not budge over carbon tax

The national Treasury is sticking to its decision about implementing the carbon tax from next year. The hopes of business have gone down as there might be delays to the unpopular measure and it believes that it will add yet another burden to the economy already in trouble due to load shedding and low growth. Treasury deputy director-general Ismail Momoniat confirmed on Tuesday that the 2016 implementation date was still on track and that it would “hopefully” release a draft bill within the following two…

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Image source: EFF

Malema’s Tax Case Postponed

The Economic Freedom Fighters (EFF) leader Julius Malema’s tax battle will resume in June after the Pretoria High Court postponed the matter one again. “I rule that the matter be extended to June 1. Costs reserved,” Jude Ferdi Preller said. Malema appeared in court where the judge was to decide whether or not to declare him an insolvent and sequestrate his assets after the matter was postponed in August, 2014. If the court rules in favour of the final sequestration against Malema, he would no…

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South Africa Planning Substantial Tax Relief

South Africa Planning Substantial Tax Relief

The South African Ministry of Finance has launched a public consultation on proposals for a temporary reduction in employer’s and employees’ contributions to UIF (Unemployment Insurance fund), while their benefits remain unchanged. The 2015 Budget has already been rolled out and it contained a proposal to reduce the remuneration threshold against which unemployment contributions are calculated from the monthly amount of R14 872 to R1 000. In connection with the challenging economic environment that has led to a decrease in economic growth, it is considered…

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Africa asked to introduce eco taxes, UN

Africa asked to introduce eco taxes, UN

The United Nations has release a new report, Africa’s Adaptation Gap. This recommends that African countries begin to introduce environmental levies in order to contribute to global climate change efforts. This particular report was released at the 15yh African Ministerial Conference on the Environment. It follows in the footsteps of the UN Environmental Program’s Global Adaptation Gap Report 2014. It found that the cost of introducing the changes needed in developing countries in order to reduce emissions, could be as high as US$ 360 to…

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