The South African Revenue Service (SARS) has issued its latest update regarding the key figures for tax directives received concerning withdrawals from the Savings Withdrawal Benefit under the new ‘Two-Pot’ retirement system. Economic challenges faced by households Since its inception on 1 September 2024, SARS has observed a steady increase in tax directive applications, likely … Read more
The South African Revenue Service (SARS) has issued an update regarding the figures for tax directives received concerning withdrawals from the Savings Withdrawal Benefit under the two-pot system. Unprecedented and steady increase Since its inception on 1 September 2024, SARS has observed an unprecedented and steady increase in tax directive applications, likely reflecting the economic … Read more
The South African Revenue Service (SARS) is hard at work ensuring that its digital platforms and technology infrastructure are robust and secure, by performing regular upgrades, enhancements and maintenance. RELATED | SARS warns taxpayers over non-disclosure of crypto assets In accordance with its Vision and Strategic Objectives, which include modernising its systems to provide Digital … Read more
The South African Revenue Service’s (SARS) has confirmed that its Vereeniging branch will be relocating from Tuesday, 18 November 2024. Dominant language Its new physical address will be Shop 12A, Bedworth Centre, Ascot on Vaal Road, Vereeniging. In Vereeniging, staff are happy to converse with taxpayers in Sesotho as the dominant language of the region. … Read more
The South African Revenue Service (SARS) has confirmed that it has received 1 213 646 applications for tax directives for withdrawals from the Savings Withdrawal Benefit of the two-pot system. For the latest finance news, bookmark The South African website’s dedicated section for free-to-read content Of that total number of applications, 1 148 729 tax directives were … Read more
The South African Revenue Service (SARS) has noted the phenomenal growth of the use of various digital currencies by many South Africans. Prominent amongst these is the prevalence of crypto assets. A staggering number of more than 5.8 million South Africans hold a crypto asset, with Southern Africa boasting the largest uptake of Bitcoin in … Read more
The South African Revenue Service (SARS) has confirmed that the dates for TRUSTS filing season is 16 September 2024 to 20 January 2025 for provisional and non-provisional taxpayers. In a statement posted on Monday, SARS confirmed that the following enhancements were implemented based on legal and form changes: Enhanced deduction for certain machinery, plant, implements, … Read more
Recent developments have seen the South African Revenue Service (SARS) turn its attention toward crypto traders, who are now receiving notices that their tax affairs are under review. According to law firm Webber Wentzel, these notifications are based on information obtained from various crypto asset exchanges, signalling a significant escalation in SARS’s efforts to enforce … Read more
The South African Revenue Service (SARS) has noted its concern at an article published in last weekend’s Sunday Times regarding the hijacking of taxpayers’ profiles. SARS has ‘extensively investigated the alleged crime’ In a release on its website, SARS wrote that under normal circumstances it is prohibited by Chapter 6 of the Tax Administration Act … Read more
The South African Revenue Service (SARS) is hard at work ensuring that its digital platforms and technology infrastructure are robust and secure, by performing regular upgrades, enhancements and maintenance. In accordance with its Vision and Strategic Objectives, which include modernising its systems to provide Digital and Streamlined online services, SARS will run upgrades on its … Read more
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