With the implementation of the Retirement Reform requirements, information tax code 4582 (remuneration portion of income included under income codes: 3701 Travel Allowance, 3702 Re-imbursive Travel Allowance, 3802/3816 Use of Employer provided Vehicle) and its value were omitted from the submission file created by e@syFile™ Employer. This resulted in IRP5/IT3(a) certificates containing codes 3701, 3702, 3802 and/or 3816 but omitting code 4582 and its value being received by SARS.
FATCA – Foreign Account Tax Compliance Act OECD – Organisation for Economic Cooperation and Development AEOI Administrative penalties – Automated Exchange Of Information – If you are a Reporting Financial Institution (RFI) and you have missed the deadline of 31 […]
It is important for taxpayers expecting a refund to note that SARS has implemented additional risk processes for SARS Tax season 2017 to ensure both the legitimacy and accuracy of the refunds paid.
To register as a tax practitioner, you must meet the following requirements:
Most taxpayers are shy to approach a licensed tax practitioner for assistance regarding their tax form preparation and prefer to do their own tax preparations. Are you also doing your own tax preparations?
Ever wondered why smart people seek the services of a qualified tax professional, while the majority of D-I-Y tax payers always receive unexpected tax audits which may result in huge fines, or even a prison term, for them?
Originally it was the Egyptians who invented the system of Taxes. They appointed Tax Masters, whose job it was to increase the burden on the slaves under the Egyptian domination. Tax collectors, also known as Scribes, were drawn on tomb paintings dating as far back as 2000 B.C.
Tax rates are proposed by the Minister of Finance in the annual Budget Speech and fixed or passed by Parliament each year. These are then published in user friendly tax tables. Below are the relevant tax returns per tax year […]
Before you hire a tax practitioner to prepare your tax returns, you want to conduct an interview and ask several important questions. The answers to these questions will determine whether this tax practitioner service is qualified to provide what you need.