Tax Alerts

Reporting and Auditing Requirements under the new Companies Act.

Friday, October 5th, 2012
The new Companies Act 2008 provides clear guidelines for companies and close corporations with regard to the preparation and review of annual financial statements.  In many cases, notably those of small to medium sized entities, the requirements have changed quite significantly. Under the old Act, all companies were required to have an independ...Read more

Registration of Business names and Addresses

Monday, July 2nd, 2012
There have been a number of recent developments at CIPC – the Companies and Intellectual Property Commission – which will tend to affect businesses of all kinds. REGISTRATION OF A BUSINESS NAME In the past, the only time you were required to register a business, or trade name, was if the business was to be owned by a company or a close co...Read more

Alert – Promotion of Access to Information Act. (PAIA)

Wednesday, November 30th, 2011
Some years ago, there was a huge rush to create Section 51 PAIA Manuals in order to comply with the deadline laid down by government. We, at FINSERV, acting on behalf of clients, spent huge amounts of time assisting clients with this, only to have the whole process “moth-balled” by a moratorium.  It would seem that this has raised its head ...Read more

ALERTS – LEGISLATIVE & STATUTORY CHANGES!

Friday, March 11th, 2011
There are couple of fairly significant developments taking place here in South Africa, which will affect business; and all of which seem to be happening within the next few months.  The first and most important one is the advent of the new Companies Act, which, it appears, will finally happen next month. (though seeing is believing!).    T...Read more

Warrants of Arrest for errant Taxpayers

Friday, December 10th, 2010
I heard today that SARS are issuing warrants of arrest for errant taxpayers, who - presumably - are ignoring demands and summonses to submit tax returns.  One story involves someone who was arrested in the dead of night and then incarecerated along with every other kind of felon!  This is not something one wants to experience, especially here in ...Read more

ALERT! Employment Equity Reports Due 1 October

Thursday, September 23rd, 2010
Many of you small business owners might be blissfully unaware that the deadline for the submission of employment equity reports is the 1st October. Generally speaking, this only applies to businesses that employ more than 50 people, and even then, if your employment numbers are less than 150, you will only be required to submit these reports eve...Read more

PROVISIONAL TAX NEWS

Friday, June 19th, 2009
The latest is that the South African Revenue Service (SARS), in their wisdom, have decided to turn the thumbscrews a bit on provisional tax payers. They now want accurate estimates (though that seems to me to be a bit of an oxymoron), failing which penalties (and quite heavy ones at that) will be levied on any differences between this estimate a...Read more