SARS has established new regulations for retirees that may cause those with multiple sources of income to be taxed more heavily.
The South African Revenue Service has implemented new laws for retirees in the country (SARS). Given the projected changes in payments, the regulations have sparked increased anxiety. WHAT ARE SARS’ NEW REGULATIONS EXACTLY? Belinda Sullivan, Head of Corporate Consulting Strategy at Alexander Forbes, described how SARS would implement its new regulations. According to Sullivan, a […]
Major TAX changes on cards at SARS!
According to Joon Chong, a partner at Webber Wentzel, the South African Revenue Service (SARS) intends to collect taxes from individuals in real time on a monthly basis, but various practical obstacles must be resolved first. In February 2020, SARS said that as part of its "Vision 2024" initiative, it aimed to become a future […]
Budget Speech 2022
Enoch Godongwana, the South African Finance Minister, presented his first budget speech on February 23. For the most part, it’s a budget that’s beneficial for South African businesses. Business owners can breathe a sigh of relief as they plan for the new tax year, with no big tax increases and a few nice surprises, including […]