Tax & Compliance

National Treasury seeks much more bite for SARS on Criminal Tax Offenses

Authored by: Jean du Toit, Head of Tax Technical at Tax Consulting SA  The new Draft Tax Administration Laws Amendment Bill (“TALAB”), released on 31 July 2020, proposes a law change that will effectively lower the threshold for SARS and the National Prosecuting Authority (NPA) to criminally prosecute taxpayers. The proposed amendment The proposed amendment is directed at paragraph 30 of the Fourth Schedule to the Income Tax Act, section 58 of the Value-Added Tax Act and section 234 of the Tax A …



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Tax & Compliance, Wealth and Investment, Your Financial matters

New tax bills impose stricter rules to take retirement funds abroad

Authored by: Jean du Toit, Head of Tax Technical at Tax Consulting SA  The draft Taxation Laws Amendment Bill (“TLAB”) was published on 31 July 2020 and with it comes an overhaul of the regime for taking your retirement funds abroad. In terms of the proposed amendments, expatriation of these benefits will be subject to a much stricter process from 1 March 2021 onwards. Current position Under the current dispensation, taxpayers may withdraw their retirement funds prior to their retirement date, u …



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Tax & Compliance, Wealth and Investment

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