Glossary Terms A – M | Glossary Terms N – Z This glossary describes some of the terms used on the SARS website. While every effort has been made to present accurate and up-to-date definitions, this glossary should be used as an interpretive aid only and not as an authority. SARS will not be liable […]
Glossary Terms A – M | Glossary Terms N – Z This glossary describes some of the terms used on the SARS website. While every effort has been made to present accurate and up-to-date definitions, this glossary should be used as an interpretive aid only and not as an authority. SARS will not be liable […]
[…] Pension Laws Amendment Bill, to ensure the smooth implementation and administration of the “two pot” retirement system. changes. Date published: 9 June 2023 30 June 2023 Income Tax Act, 1962 Draft Guide Draft Guide – Tax Treatment of the Net-billing Tariff System for Excess Power Generated Explanatory Note This guide provides general guidance on […]
Welcome to Customs Connect – your electronic newsletter that will provide you with the latest news and information on Customs Modernisation and related matters. We hope you enjoy the read and that you will find the information helpful. To read our newsletter below, click on each heading to expand the corresponding article. Key Modernisation projects […]
Introduction Mineral Petroleum and Resources Royalty (MPRR) is triggered on the transfer of minerals extracted from within the Republic. As is the case for all other taxes, duties, levies, fees or money collected by SARS, the Royalty collected is paid to the National Revenue Fund. This Royalty became effective from March 2010. In the past, mineral […]
SARS Tax Practitioner Readiness Programme As communicated in previous Tax Practitioner Connects (TPCs) effective 1 July 2022, a member of an RCB who wishes to register as a tax practitioner is required to successfully pass the assessment for the SARS Tax Practitioner Readiness Programme. The learning material is available on the SARS website and SARS […]
1. Why modernise customs law? In an ever changing and complex international, regional and national environment, Customs plays a critical role in supporting Government’s programmes to promote economic growth, job creation and social cohesion. The Customs and Excise Act, 1964, has not kept pace with the changing focus of customs work or with the radical […]
Budget 2022/23 The Minister of Finance, Enoch Godongwana, tabled the 2022/23 National Budget before Parliament in Cape Town on 23 February 2022. His inaugural budget speech was underpinned by the need to strike a critical balance between saving lives and livelihoods, while supporting inclusive growth. “This budget presents this balance,” he said. The widely welcomed […]
Welcome to the latest edition of Tax Practitioner Connect, the electronic newsletter for tax practitioners that keeps you up to date with the tax matters that affect you. Preparing for Individuals’ Personal Income Tax (PIT) and Trusts Filing Season 2021 In 2020, SARS embarked on a journey to integrate logical activities into phases that […]
What’s New? 6 September 2023 – DA66 Automation: Frequently Asked Questions The Customs Modernisation Journey Pre SARS Customs commenced with a modernisation journey between 1980 – 1997 with the introduction of the first automated clearance declaration and basic risk assessments together with the introduction of deferred payments The second journey was called the Customs Transformation Programme […]
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