south african revenue service (sars)

  1. Hanno Labuschagne

    VAT hike could be reversed in two months

    VAT hike could be reversed in two months While South Africa's VAT rate should increase to 15.5% on 1 May 2025, it could be back at its current level within two months due to higher revenues in the national government's 2025/2026 budget. Sunday Times reports that finance minister Enoch...
    • Hanno Labuschagne
    • Thread
    • 2025 budget speech budget 2025 enoch godongwana national treasury south african revenue service (sars) tax hikes taxes value-added tax (vat)
    • Replies: 59
    • Forum: News and Current Affairs
  3. Hanno Labuschagne

    Online scammers using high-profile entities to steal money

    Online scammers using high-profile entities to steal money South Africans should be wary that fraudsters targeting their salaries and pensions have become better at impersonating major institutions. According to a Sunday Times report, scammers have increasingly masqueraded as prominent...
  4. Hanno Labuschagne

    Sars sued for R950 million over alleged eFiling hijack

    Sars sued for R950 million over alleged eFiling hijack A Free State construction company has sued the South African Revenue Service (Sars) for R950 million in damages after the tax service allegedly failed to fully investigate an e-filing hack which resulted in tax compliance issues, Sunday...
  5. Hanno Labuschagne

    Tax hikes on sub-R500 Temu and Shein clothing orders

    Tax hikes on sub-R500 Temu and Shein clothing orders Low-value and small-volume orders of clothing from Temu and Shein will start getting slapped with higher taxes from next month, Business Times reports. The Foshini Croup (TFG) CEO Anthony Thunström told the publication that the South African...
    • Hanno Labuschagne
    • Thread
    • anthony thunström ecommerce import taxes online shopping shein south african revenue service (sars) taxes temu the foschini group (tfg)
    • Replies: 135
    • Forum: Broadband and IT News
  6. Hanno Labuschagne

    Taxman sets sights on banks over roles in organised crime

    Taxman sets sights on banks over roles in organised crime The head of South Africa’s revenue service said it will ramp up efforts to target lenders and advisers who may be “professional enablers” of organised corruption and financial crimes to combat illicit capital flows and tax evasion. “It...
    • Hanno Labuschagne
    • Thread
    • absa banks corruption edward kieswetter organised crime sasfin south african revenue service (sars) standard bank
    • Replies: 6
    • Forum: Broadband and IT News
  7. Jan

    Solar panel prices plummet - imports have dropped, but still higher than ever

    Solar panels in South Africa are cheaper than ever as imports crash Following a boom in the first half of the year, imports of solar panels in South Africa have plummeted in the past few months, according to data from the South African Revenue Service (Sars). During the first half of 2023, the...
  8. Hanno Labuschagne

    Covid-19 tenderpreneur's Lambo and Porsches up for auction

    Covid-19 tenderpreneur's Lambo and Porsches up for auction The South African Revenue Service (Sars) is auctioning off a fleet of luxury vehicles seized from infamous Covid-19 tenderpreneur Hamilton Ndlovu, Sunday Times reports. Five of Ndlovu's most valuable cars are going under the hammer...
  9. Jan

    Webber Wentzel outlines what homeowners and businesses should consider to qualify for solar tax breaks

    Solar tax breaks in South Africa — what homeowners and businesses should know The demand for solar power equipment in South Africa will likely rise with the country's new solar incentives, but homeowners and businesses must know what to do to qualify for the tax breaks. Partners at Webber...
    • Jan
    • Thread
    • chetan vanmali eskom joon chong load-shedding south african revenue service (sars) webber wentzel
    • Replies: 21
    • Forum: Broadband and IT News
  10. Hanno Labuschagne

    Sars seizes Bitcoin mining hardware worth R10 million

    Sars seizes Bitcoin mining hardware worth R10 million Police and South African Revenue Service (SARS) agents raided an unauthorised warehouse in Vryburg, North West, on Thursday, 4 May 2023, confiscating Bitcoin mining equipment and illegally-manufactured alcohol. In its statement announcing...
  11. Hanno Labuschagne

    MTN's massive tax bill in South Africa

    MTN's massive tax bill in South Africa MTN paid R8.1 billion in taxes to the South African government in 2022, according to the company’s latest tax report. This is a 50% increase from the year before, where tax revenue totalled R5.4 billion. [Bloomberg]
  12. Jan

    Enoch Godongwana announces rooftop solar tax breaks

    Massive rooftop solar tax rebates for South Africa — Up to R15,000 back for households Tax-paying South African individuals and businesses will be able to claim substantial rebates for rooftop solar and other renewable energy generation in the coming financial year. The announcement formed...
  13. Hanno Labuschagne

    Why South Africa must cut taxes

    Why South Africa must cut taxes South Africa can generate more tax revenue by lowering taxes, which will create additional wealth and stimulate the economy. It may sound counter-intuitive that more tax revenue can be collected through lower taxes, but it has been proven to work in many cases...
  14. Jan

    South Africa's cryptocurrency tax minefield - Webber Wentzel

    Cryptocurrency investing a tax minefield in South Africa A minefield of taxes lies ahead for crypto asset transactions in South Africa, where a gain in selling Bitcoin and other cryptocurrencies is taxed as either revenue or capital. It is according to Joon Chong, a partner and tax specialist...
    • Jan
    • Thread
    • joon chong south african reserve bank (sarb) south african revenue service (sars) webber wentzel
    • Replies: 4
    • Forum: Broadband and IT News
  15. Jan

    SARS claims Mirror Trading International's liquidator owes it R931,121,989.35 in tax and penalties

    Liquidators recovered R1.1 billion in South Africa's biggest bitcoin scam — now the taxman wants it all The South African Revenue Service (SARS) is lodging a claim for R931,121,989.35 against the estate of disgraced bitcoin-based network marketing scheme Mirror Trading International. If...
    • Jan
    • Thread
    • commodity futures trading commission (cftc) johann steynberg mirror trading international (mti) south african revenue service (sars)
    • Replies: 52
    • Forum: Broadband and IT News
  16. Jan

    Denel informs staff they can't submit tax returns for 2022 yet

    Denel disaster Embattled stated arms manufacturer Denel has informed employees that their tax certificates are not ready for distribution. It has also failed to comply with a court order to pay employees, resulting in assets being seized for auction.
    • Jan
    • Thread
    • denel derek mans solidarity south african revenue service (sars) thandeka sabela zondo commission
    • Replies: 41
    • Forum: Broadband and IT News
  17. Jan

    Tshwane continues power cut campaign - targets Sars branch and Gautrain station

    Sars and Gautrain power cuts — Tshwane’s rampage continues The City of Tshwane this week continued its aggressive electricity and water revenue collection campaign, cutting off customers who have defaulted on payments for municipal services such as the supply of water and electricity. Sticking...
  18. Jan

    MTI liquidators slam attempts to prevent it from being declared a pyramid scheme

    MTI liquidators slam members trying to stop it from being declared a pyramid scheme Mirror Trading International's liquidators have hit back at claims that victims would lose money if the scheme were declared unlawful. According to the liquidators, this argument is being furthered by some of...
    • Jan
    • Thread
    • bitcoin financial sector conduct authority (fsca) hendrik van staden investrust mirror trading international (mti) riaan van rooyen south african revenue service (sars)
    • Replies: 10
    • Forum: Broadband and IT News
  19. Jan

    SARS warns of phishing scams

    Beware tax return scams defrauding South Africans The South African Revenue Service has warned the public of phishing scams that are defrauding taxpayers.
    • Jan
    • Thread
    • phishing south african revenue service (sars) tax returns
    • Replies: 0
    • Forum: Broadband and IT News
  20. Jan

    SABC TV licence alternatives on the table

    Goodbye TV licence — This is what could replace it With less than one in every five TV licence holders in South Africa paying their fees over the last year, several proposals are on the table for a new way to fund the struggling SABC. The public broadcaster's TV licence revenue has nose-dived...
    • Jan
    • Thread
    • dstv free market foundation multichoice netflix organisation undoing tax abuse (outa) sabc sabc tv licence south african revenue service (sars)
    • Replies: 42
    • Forum: Broadband and IT News
  21. Jan

    Where to declare your cryptocurrency holdings on your tax return

    How to declare your Bitcoin to SARS South Africans who trade in or own cryptocurrencies like bitcoin, ether, and dogecoin must declare this to SARS or face severe financial penalties. While most governmental financial institutions in South Africa don’t regard cryptocurrencies as having any...
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