SARS HOSTING OF THE 91st MEETINGS OF THE WORLD CUSTOMS ORGANIZATION (WCO) POLICY COMMISSION IN CAPE TOWN, FROM 3 TO 5 DECEMBER 2024
Next week Cape Town will become the centre for global customs and trade facilitation discussions when South Africa hosts the WCO Policy Commission meetings in the city over 3-days from 3 to 5 December. SARS Commissioner Kieswetter as the WCO Council Chairperson will oversee the proceedings.
Trade Statistics for October 2024
South Africa recorded a preliminary trade balance surplus of R14.6 billion in October 2024. This surplus was attributable to exports of R179.6 billion and imports of R165.0 billion.
Search-and-seizure operation at Ms Mkhize’s premises
The South African Revenue Service (SARS) is pleased to announce a significant development in our effort to combat tax evasion and criminal activity that undermines the country’s economy.
The latest Two-Pot withdrawals
The South African Revenue Service (SARS) seeks to update the total figures for tax directives received concerning withdrawals from the Savings Withdrawal Benefit under the two-pot system. Since its inception, SARS has observed an unprecedented and steady increase in tax directive applications, likely reflecting the economic challenges faced by households.
As of 18 November 2024, 2,153,942 directive applications were received and a total of 1,914, 306 directives issued with a total gross value of R49 577, 355, 406.14.
Commissioner Edward Kieswetter appointed as Vice Chair of the OECD Forum on Tax Administration (FTA)
The Commissioner for South African Revenue Service (SARS), Mr. Edward Kieswetter was appointed as Vice Chairperson of the OECD Forum on Tax Administration.
Trade Statistics for September 2024
South Africa recorded a preliminary trade balance surplus of R12.8 billion in September 2024 attributable to exports of R170.7 billion and imports of R157.9 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).
In tough economic conditions SARS increases its compliance focus
The South African Revenue Service (SARS) welcomes the Medium-Term Budget Policy Statement (MTBPS) tabled in Parliament today by the Minister of Finance, Mr Enoch Godongwana. The Minister revised the 2024 February Budget net tax revenue estimate from R1 863.0 billion to R1 840.8 billion.
SARS welcomes the High Court decision on Mr Roux Shabangu
The Commissioner for the South African Revenue Service (SARS) Mr. Edward Kieswetter has welcomed the decision of the Gauteng North High Court Division that held Mr. Ngwane Roux Shabangu accountable for his failure to pay SARS the outstanding taxes owed by him and his linked entities. Mr. Shabangu has various business interests in the construction and property industry.
SARS is engaging with industry to avert fuel shortages
After careful consideration, SARS Commissioner has granted special permission for the importation of kerosene fuel from 21 October 2024 until 20 October 2025. The special permission is granted to allow parties to attend to the complexities involved in the process of the deregistration of manufacturing warehouses and reregistration of affected storage facilities.
SARS is engaging with industry to avert any fuel shortages
The South African Revenue Service (SARS) has noted media statements alluding to the pending shortage of jet fuel, known as kerosene, due to what is purportedly SARS’ dithering to issue licences to fuel companies. This is an incorrect position. The importation and movement of both aviation kerosene and illuminating kerosene is strictly governed by the Customs and Excise Act.
