Revenue service Sars said on Friday it had terminated the services of its head of legal, Refiloe Mokoena, with immediate effect. It said the decision was taken after a disciplinary hearing chaired by a senior counsel from the Johannesburg Bar. Sars said Mokoena was found guilty of serious misconduct. “Sars has accepted the chairperson’s recommendation..
Continue reading…
Unlawful R420m Gupta VAT refund – Sars legal head fired with immediate effect
Posted on Leave a comment
SA taxpayers are among the highly taxed in the world – and it could get worse
Posted on Leave a comment
Economists say we will most likely see an increase in personal tax and the fuel levy, as government tries to ramp up tax collection. They say government is running out of options to raise money after SARS missed its collection targets over the past few years. Analysts say it’s now a certainty that SARS will..
Continue reading…
ANC government is milking taxpayers! – Figures from 115 countries available, SA ranks eighth with high tax rates
Posted on Leave a comment
The South African Revenue Service has increased taxes amid poor economic conditions and consequently poor economic growth. South Africa is among the top ten countries with high taxes and is also the highest with tax rates. Personal taxes have become more important to the greedy government than a source of revenue for the state over..
Continue reading…
Consumers are warned of second increase in VAT to make up for shortfalls that were stolen by ANC-politicians
Posted on Leave a comment
With the new finance minister set to deliver the medium-term budget policy statement later this month, tax experts have warned of a likely increase in VAT in the coming year. Former SA Reserve Bank governor Tito Mboweni was sworn in as finance minister this week, following the resignation of Nhlanhla Nene. Bernard Sacks of Mazars,..
Continue reading…
Treasury News:- Sars shortfall to blame for VAT hike, so we are paying for their incompetency!
Posted on Leave a comment
Treasury would not have needed to increase value added tax (VAT) by one percentage point to 15% in April if not for the revenue shortfall at the South African Revenue Services (SARS), deputy director general at national treasury Ismail Momoniat told the Nugent commission of inquiry on Wednesday.
Continue reading…
Implementation of Moyane-sanctioned model moved SARS efficiency backwards
Posted on Leave a comment
The restructuring of the South African Revenue Service’s operating model was unnecessary and undercut the efficiency of the revenue services. This is according to testimony given during the second leg of the Nugent commission on Tuesday.
Continue reading…
SA Government illegally paid Gupta firms over R400m in tax refunds
Posted on Leave a comment
The news is spreading like wild fire that there are exclusive evidence which reveals Sars allegedly unlawfully paid more than R400 million in tax refunds to Gupta-linked entities. The South African Revenue Service (Sars) says it is conducting a comprehensive investigation into the payment of millions of rands in VAT and personal income tax refunds..
Continue reading…
Treasury open to reviewing zero-rated VAT items
Posted on Leave a comment
According to Treasury’s budget review document, there are 19 basic food items on the zero-rated list. This includes dried beans, samp, maize meal, rice, milk, tinned pilchards, brown bread, eggs and vegetables, as well as illuminated paraffin.
In its submission, Treasury highlighted findings from the Davis Tax Committee in 2015 that advised that no more zero-rated food items should be considered.
Continue reading…
DA wants to petition VAT increase
Posted on 1 Comment
JOHANNESBURG – DA leader Mmusi Maimane says he will today launch a national petition in Soshanguve to oppose the VAT increase in Parliament.
Finance Minister Malusi Gigaba announced in his Budget speech that VAT will increase from 14% to 15%.
Continue reading…
This is what Malusi has to say about the 2018 Budget
Posted on 2 Comments
For the first time in 25 years, the South African government will hike up Value-Added Tax (VAT) in a bid to fund the gaping hole in the national budget.
With tax collection falling short by R48-billion, compounded by former president Jacob Zuma’s announcement of fee-free higher
Continue reading…