Could someone please explain to me where VAT goes to?
We all pay VAT, every single person that purchases a toffee to a 2L cool drink, to Petrol, whatever we buy, we pay VAT.
Does the VAT go to SARS? Does the Government get it?
Why are we so phased then that 4.5 Million Tax payers are...
Value Added Tax (VAT): total VAT collections were R190.5 billion and showed a relatively muted growth of R6.9 billion (3.8%) year-on-year. This performance was R0.4 billion (-0.2%) below the Revised Estimate in the 2012 Budget (source)...
I've received my tax return form on the 19th of November (via SARS eFiling). It indicates that the due date is 23 November 2012. My previous employer is still busy filing all necessary data and will probably not finish before the 23rd.
If I file my tax return form late, what will happen? Will...
Howzit Guys:
A friend of mine has released an Android App to the Google Play market.
https://play.google.com/store/apps/details?id=com.balsdon.fleetcapture&feature=search_result#?t=W251bGwsMSwyLDEsImNvbS5iYWxzZG9uLmZsZWV0Y2FwdHVyZSJd
Please download if you think this may be useful to...
Be afraid, very afraid, of the nexus
Depending on who you are, “The Nexus” is either a villainous professional wrestling team or the framework from which to view the future of IT
Hi,
My husband last received a IRP 5 in 2008. The 3 companies he worked for between then and Aug 2011 never gave him IRP 5 even though they deducted tax from his salary. He went to Sars last year November and they could not locate any information for those 3 years. They told him to go to the...
Advice Please: Tax on Voluntary Retrenchment Package
Hi,
Hopefully someone will be able to clarify this for me as I'm getting all sorts of conflicting information from different sources.
The situation is this: We're undergoing a restructure at our company and we've been told that around...
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I'm doing someone's e-filing, and I need some help. It's a small business, and I've filled in all the accounting information. Under the calculation of the business's profit, it asks for a source code. Which code do I need to use? I've tried to search on SARS's site, but can't seem to find it...
Here is a situation I would like to know the answer to. I have found numerous contradicting answers on the web.
1. I run an affiliate website which sends leads to a company that handles money transfers in and out of South Africa.
2. To cut a long story short, I get paid on how much is...
Hi all
I urgently need some help, please.
In September I logged onto my efiling profile to submit my return, but found a company had wrongfully submitted someone else's IRP 5 onto my name - meaning I have two IRP 5's on my tax profile. I immediately contacted the SARS helpline, but was...
Multichoice vs SARS: DStv decoder dispute resolved
A long standing dispute between SARS and Multichoice concerning the classification of a digital satellite decoder is now resolved
During the unveiling of the 2010-2011 fiscal revenue results, SARS identified specialised retail software used by tax dodgers
The South African Revenue Services (SARS) has identified specialised tax evasion software used by retailers, hampering revenue collection.
SARS commissioner Oupa...
SARS has announced the 2011 Employer Filing Season:
04 April 2011 - 03 June 2011
This is the information we have so far:
http://www.sars.gov.za/Tools/Documents/DocumentDownload.asp?FileID=66987
The new version of SARS e@syFile that will need to be used for your submissions will be...
The Budget Speech was announced on 23 February 2011 by Pravin Gordhan. Have a look at the SARS pocket Guide, the summary of the changes as well as the new tax tables. In addition, you can use our free salary tax calculator to see how much money you'll save.
Salary Tax Calculator...
OK, so we have been using e@syfile for a few years. But stupid me, I lost last year's data because of a crashed hard drive. So I've found some data from earlier 2010, which I have managed to import into the new Easyfile version. But now my employees are only showing up in 2009 under the...
There are 14 days left to get your bi-annual submissions in to SARS.
http://www.sars.gov.za/
Remeber that even though you need to submit your tax certificates to SARS along with your PAYE recon, you do not need to give the IRP5s to your staff.
I am registered for tax in my personal capacity. I have run my own SME for almost a year now with total revenue around R120,000 ALL going into MY bank account.
The business is too small to register for VAT but now i'm scared SARS is going to come after me due to all the money that's been...
The individual tax filing season commenced on 01 July 2010.
Deadlines for submission:
- The deadline for postal submissions (paper tax returns) for provisional and non-provisional taxpayers is the last working day of September - 30 September 2010
- The deadline for electronic...