RSM South Africa
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23 April 2018

Conversion of debt into equity

South African Revenue Services (“SARS”) in their Tax Laws Amendment Bill of 19 July 2017, supported by the Explanatory Memorandum thereto, acknowledged that a common mechanism used in practice by taxpayers to enable a debtor to settle a debt is for...
Calculator
20 April 2018

SARS announces prosecution of taxpayers with outstanding returns

The South African Revenue Service (“SARS”) issued a media release on 16 April 2018 where they advised that they have started, together with the National Prosecuting Authority (“NPA”), to prosecute non-compliant taxpayers who have failed to submit...
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18 April 2018

The value added by external auditing

An external audit provides reasonable (but not absolute) assurance that the financial statements of the entity being audited are free from material misstatement. However, external auditing is often seen as costly and of no practical value to...

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17 April 2018

IFRS News in Brief - Issue 80

PUBLICATIONS AND ANNOUNCEMENTS The International Accounting Standards Board issued a revised version of the Conceptual Framework for Financial Reporting on 29 March 2018. It sets out the fundamental concepts of financial reporting that underpin IFRS...
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17 April 2018

The Threshold for Major B-BBEE Transactions

From 9th June 2017, any Major B-BBEE Transaction is required to be registered with the B-BBEE Commission in the prescribed Form BBBEE 18, within 15 days of being concluded.
Buildings
13 April 2018

The effect of land expropriation without compensation on your business

Land expropriation without compensation is a controversial topic in South Africa. Proponents of this topic mention the following benefits, amongst others: 
China illustration
13 April 2018

A changing nation: the effects of globalisation on China

China is rapidly becoming the new champion of economic cooperation, trade and globalisation. As others retreat from the forefront, Chinese businesses are looking to expand and grow into all corners of the world.
Waterway
12 April 2018

XBRL and the filing of a company's annual financial statements

Section 33(1) of the Companies Act 71 of 2008 (the Companies Act) states that every company must file an annual return in the prescribed form, with the prescribed fee, and within the prescribed period after the anniversary of the date of its...
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9 April 2018

POPI and its impact on direct marketing

We live in a period where technology allows consumers to be contacted at any time via e-mail, phone calls and even through social media.
3 April 2018

Working, studying and training at RSM

At RSM, trainee accountants are trained to interact with clients in a professional, ethical and timely manner while ensuring the client is receiving a high level of professional service.

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