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B-Verified Director, Arno Nel CA (SA) RA delivered a presentation on the B-BBEE Amended Codes of Good Practice at TSiBA Education on 27 Oct 2016. To download a copy of the presentation, click here:...read more
The B-BBEE Commission has recently issued a practice guide 02 of 2016 which addresses B-BBEE certificates for Exempt Micro Enterprises (EME’s) with an annual turnover below R10 million, as well as black-owned Qualifying Small Enterprises (QSE’s ) with an annual...read more
C2M has put together an informal 2.5 min video to update our clients on SARS related matters. Click on the link below to view. NOTICE PUBLISHED BY SAIT: 20 SEPTEMBER 2016 Update: SARS Special Stoppers We note that the issue of...read more
Tax payable by South Africans working abroad is impacted by whether they will remain tax resident of South Africa. A natural person is a “resident” if he or she is either ordinary resident in the Republic or meets the physical presence test. South African tax...read more
Included in the Draft Taxation Laws Amendment Bill of 2016 are far-reaching proposals relating to the income tax treatment of low interest or interest free loans to trusts. The proposals if enacted are serious enough as to lead to the unwinding of various trust...read more
IMPLICATIONS FOR B-VERIFIED CLIENTS B-Verified is in the process to register as a SANAS accredited verification agent and will continue to offer B-BBEE verification services to our clients. Note that B-Verified will issue certificates as an IRBA accredited agent until...read more
This article was published online on SAICA’s website: www.saica.co.za Johannesburg, Tuesday 26 July – Strange as it may seem, some people have been receiving phone calls from private debt collecting companies urging them to pay their taxes. It seems like a hoax,...read more
USE OF EMPLOYER-PROVIDED MOTOR VEHICLE | TAXATION OF BENEFITS Following NADA directive issued in April 2016 motor vehicle dealers may use the average cost of stock held in trade in the previous year of assessment to determine the fringe benefit for dealership...read more
The so-called “sugar tax” that will come into effect in April 2017 has been subject to a lot of criticism regarding its purpose, which is to reduce obesity and sugar related diseases (such as diabetes) amongst South Africans. With the World Health Organisation...read more
Amended B-BBEE Codes now effective: Entities with turnover below R10 million now require a sworn affidavit
With the amended B-BBEE codes now effective, certificates that were issued in the past to confirm the status of Exempted Micro Enterprises (EME) as well as turnover confirmations, cannot be supplied by verification agents or auditors anymore. The amended B-BBEE codes...read more
In terms of section 20(1) of the VAT Act, it is the duty of any registered vendor supplying taxable goods to another person / vendors, to issue a tax invoice within 21 days of the supply. New requirements in terms of tax invoicing came into effect on 8 January 2016....read more
The Minister of Finance in his Budget Speech announced the introduction of a Special Voluntary Disclosure Programme to give a further opportunity for non-compliant taxpayers who still have undisclosed assets abroad to voluntarily disclose their offshore assets and...read more