RSM South Africa

Tax insights

Tax debt compromise - the last resort

17 November 2017
We live in hard times. Economic downturns, rising inflation, unemployment rates and the tightening of purse strings by companies all increase the financial stresses that are synonymous with our times.

The challenges of registering a trust as a taxpayer

3 November 2017
To get onto the SARS register nowadays has proven to be quite challenging and time consuming, even more so for a trust.

Public notice - Transfer Pricing record keeping requirements

23 October 2017
In July of 2016 South African Revenue Services (SARS) issued a draft notice in terms of Section 29 of the Tax Administration Act. The draft notice sets out additional record keeping requirements for transfer pricing transactions.

National Treasury cancels plan to scrap 183-day exemption

18 September 2017
South African Tax Law currently stipulates that if a South African resident works outside the Republic for more than 183 full days (in aggregate) in any 12 month period and for a continuous period exceeding 60 full days during that 12 month period, the foreign employment income earned is exempt from income tax within the Republic irrespective of whether the residen

National Treasury plans to scrap 183-day exemption

8 September 2017
South African Tax Law currently stipulates that if a South African resident works outside the Republic for more than 183 full days (in aggregate) in any 12 month period and for a continuous period exceeding 60 full days during that 12 month period, the foreign employment income earned is exempt from income tax within the Republic irrespective of whether the residen

"Most favoured nation" clause and dividends withholding tax

1 September 2017
The advent of dividends withholding tax (DWT) on 1 April 2012 shifted the liability for tax on dividends from the company to the shareholder.

Transfer Pricing Documentation requirements and country-by-country reporting - The goalposts keep moving

25 August 2017
In October 2016 South African Revenue Services (SARS) issued regulations obligating taxpayers who met certain criteria to maintain and retain specific documentation, as detailed in the regulations, with regards to cross border connected party transactions. Following on from this, they have issued two further documents.

SARS - Know your rights but also your responsibilities

28 July 2017
There has been much ado of late regarding taxpayer refunds that have been delayed by the South African Revenue Service (SARS). Whether this delay has sinister implications is a discussion for another time. Practically the taxpayer must understand what his or her rights are in terms of their refunds.

An employee's guide to understanding your IRP5

19 July 2017
Another tax year has come to an end and the 2017 tax filing season for all individuals opened on 1 July 2017. This is the time when each individual who has received income during the period of 1 March 2016 to 28 February 2017 will need to submit their Income Tax Returns to SARS, either via eFiling or by means of going in to a SARS branch.

Important notification from SARS for all employers

18 July 2017
Notification from SARS for re-submission of 2017 employer annual reconciliation declaration (EMP501) and associated IRP5 /IT3(A) certificates

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