Remember to record your motor vehicle’s odometer reading on 1 March
29 February 2024 – If you receive a travel allowance from an employer or principal, you can claim a deduction on assessment of your annual income tax return for the use of a private motor vehicle for business purposes. What do I need to do? Firstly, record your motor vehicle’s odometer reading on 1 March, i.e. […]
Mobile Tax Units for Western Cape
29 February 2024 – The Mobile Tax Unit schedule for Western Cape for March 2024 is now available.
Information on employees’ allowances for the 2025 year of assessment
29 February 2024 – The Minister of Finance has approved the new table of rates per kilometre for motor vehicles in respect of the 2025 year of assessment, for purposes of Section 8(1) of the Income Tax Act No. 58 of 1962. The Commissioner for SARS has determined the daily amount for expenditure in respect […]
Media release – Commissioner Kieswetter’s term extended
27 February 2024 – The South African Revenue Service (SARS) confirms that President Cyril Ramaphosa requested the SARS Commissioner Mr. Edward Kieswetter to stay beyond his current term, which was meant to expire on 30 April 2024. Both parties agreed to the extension of his term as Commissioner for a period of two years. The […]
Media release – SARS confirms legal action
27 February 2024 – The Commissioner for South African Revenue Service (SARS) Mr Edward Kieswetter hereby confirms that SARS has instituted legal proceedings against Sasfin Bank, as disclosed in the SENS announcement issued by Sasfin Holdings Ltd on 27 February 2024. SARS conducted a thorough investigation into various South African taxpayers who had not made […]
Excise – Biodiesel
27 February 2024 – The Biodiesel external policy has been revised as follows: To align with the relevant sections of the Act. The biodiesel process flow and the process for reprocessing, destruction and abandonment have been deleted from the external policy. Robbery and theft have been included as exclusionary items under Vis Major losses. SE-BIO-02 – […]
Health Promotion Levy on Sugary Beverages
27 February 2024 – The Health Promotion Levy on Sugary Beverages external policy has been revised to align with the relevant sections of the Act. SE-SB-02 – Health Promotion Levy on Sugary Beverages – External Policy
Excise – Declaration & Return Submission via eFiling
27 February 2024 – The Declaration and Return Submission through eFiling guide has been revised as follows: To remove references to specific Excise products and apply them to all products Relevant processes have been revised to reflect current eFiling system functionalities The process for capturing all Excise duties and levies has been updated The document has […]
New Scam alert
27 February 2024 – There is a new scam doing the rounds talking about eFiling Income Tax assessment and tax compliance obligations. Please do not open the link and delete the email immediately. An example of the scam was published on our Scams & Phishing webpage.
Tax Directive – Legislative changes
26 February 2024 – The tax directive guides have been updated to include the following changes: The new fields added on the IRP3(s) form to allow for the taxation of local and foreign income for South African citizens who have worked both locally and overseas who do not qualify for exemption under s10(i)(o)(ii). The new […]
