Tax, VAT, customs and trade alerts

Start adding items to your reading lists:
or
Save this item to:
This item has been saved to your reading list.
We provide a wealth of publications by PwC South Africa providing informed commentary on current developments in the tax arena, both locally and internationally.
Through analysis and comment on new law and judicial decisions of interest, they assist business executives to identify developments and trends in tax law and revenue practice that might impact their business.
 

In this alert:

All vendors that are required to apportion input VAT must recalculate (within 6 months of the financial year-end) the apportionment ratio applied in the previous financial year using the audited financial statement of that year. Following the VAT rate increase on 1 April 2018, performing your annual apportionment adjustment has just become significantly more complex.

Please find below the alert that deals with the above mentioned matter.

 

loading-player

Playback of this video is not currently available

Previous editions: Tax, VAT, customs and trade alerts

Filter by:

Tax Alert - VAT apportionment: annual adjustment

All vendors that are required to apportion input VAT must recalculate the apportionment ratio applied in the previous financial year using the audited financial statement of that year. Following the VAT rate increase on 1 April 2018, performing your annual apportionment adjustment has just become significantly more complex.

Start adding items to your reading lists:
or
Save this item to:
This item has been saved to your reading list.

Tax Alert - Tax Ombud defines systemic issues at SARS

In a document published on 23 August, the Tax Ombud listed a number of specific systemic issues identified at SARS. As stated in the document, these systemic issues were identified based on the Tax Ombud’s report into alleged delayed payment of refunds as a systemic and emerging issue, as well as complaints received by his office from taxpayers.

Start adding items to your reading lists:
or
Save this item to:
This item has been saved to your reading list.

Tax Alert - 2018 Legislative cycle: Proposed VAT amendments

The draft Taxation Laws Amendment Bill, 2018 (“the draft TLAB”) and the draft Tax Administration Laws Amendment Bill (“the draft TALAB”) were released for public comment on 16 July 2018 and include proposed amendments to the Value-Added Tax Act, 1991 (“the VAT Act”).

Start adding items to your reading lists:
or
Save this item to:
This item has been saved to your reading list.

Tax Alert - 2018 Legislative cycle: Proposed revisions to debt relief rules

The proposed amendments seek to address many of the concerns relating to the rules introduced in the 2017 legislative cycle. Importantly, it is proposed that the amendments be effective retrospectively for tax years commencing on or after 1 January 2018 (i.e. the effective date of the rules introduced in 2017).

Start adding items to your reading lists:
or
Save this item to:
This item has been saved to your reading list.

Tax alert - The Health Promotion Levy (“HPL”): Compliance Requirements

The HPL on sugary beverages came into effect on 1 April 2018 and has been levied since that date. To ensure compliance with the Customs and Excise Act, all local manufacturers of sugary beverages must be registered with and obtain a licence from the South African Revenue Service (“SARS”) and must prepare and submit monthly accounts (returns).

Start adding items to your reading lists:
or
Save this item to:
This item has been saved to your reading list.

Contact us

Sonja Nel
Associate Director, PwC South Africa
Tel: +27 (0)11 797 4207
Email

Follow us