SARS welcomes High Court decision on BPSA
The Commissioner for the South African Revenue Service (SARS), Mr Edward Kieswetter, welcomed the High Court decision, which dismissed an application for leave to appeal by British Petroleum of South Africa (BPSA) to review the Commissioner’s decision to refuse its refund claims and levy forfeiture under the Promotion of Administrative Justice Act (PAJA).
Trade statistics for January 2024
Today, the South African Revenue Service (SARS) releases trade statistics for January 2024, recording a preliminary trade balance deficit of R9.4 billion. The deficit is attributable to exports of R144.3 billion and imports of R153.7 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).
Commissioner Kieswetter’s term extended
The South African Revenue Service (SARS) confirms that President Cyril Ramaphosa requested the SARS Commissioner Mr. Edward Kieswetter to stay beyond his current term, which was meant to expire on 30 April 2024. Both parties agreed to the extension of his term as Commissioner for a period of two years.
SARS confirms legal action
The Commissioner for South African Revenue Service (SARS) Mr Edward Kieswetter hereby confirms that SARS has instituted legal proceedings against Sasfin Bank, as disclosed in the SENS announcement issued by Sasfin Holdings Ltd on 27 February 2024.
SARS is committed to supporting fiscal consolidation though improved tax administration
The Commissioner for the South African Revenue Service (SARS), Mr Edward Kieswetter, reaffirmed the organisation’s commitment to supporting Finance Minister Mr Enoch Godongwana’s strategy for fiscal consolidation over the medium term. “A well-functioning tax administration within a growing economy is the most sustainable path towards improving the country’s fiscal integrity,” said the Commissioner.
Trade Statistics for December 2023
South Africa recorded a preliminary trade balance surplus of R14.1 billion in December 2023. This surplus was attributable to exports of R164.0 billion and imports of R149.9 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).
Compliance focus for transfer pricing adjustments
The South African Revenue Service (SARS) has today published draft rule amendments for public comment with the view to facilitate transfer pricing adjustments.
Deadline for provisional taxpayers, including trusts, is Wednesday 24 January 2024
The deadline for individual taxpayers and trusts that are provisional taxpayers to file their income tax returns for the 2023 tax year, is Wednesday 24 January 2024. The 2023 year of assessment refers to the period between 01 March 2022 to 28 February 2023.
“Artwork” drugs seized at ORTIA
Customs officers of the South African Revenue Service seized 23 kilogrammes of narcotics disguised as moulded artwork, with an estimated street value of R37-million, at the cargo sheds of the OR Tambo International Airport this week.
Tax Statistics for the year 2023
National Treasury and the South African Revenue Service (SARS) have jointly published the 16th annual edition of the Tax Statistics. The 2023 edition provides an overview of tax-revenue collection and tax-return information for the 2019 to 2023 tax years, as well as for the 2018/19 to 2022/23 fiscal years.
