Mazars Messenger Tax Edition
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Mazars Messenger Tax Edition - March 2019
TAX EDITION
In this edition, we focus on all things tax-related.
Scroll down for this special issue:
In this edition, we focus on all things tax-related.
Scroll down for this special issue:
To download the full Tax edition in PDF please click below. Alternatively, click through to read individual articles.
Why the 2019 Budget Speech might keep the rating agencies happy
As South Africa awaits the verdict of the world’s rating agencies regarding the country’s credit rating, there is already much speculation over how the 2019 Budget Speech, delivered on 20 February by the Minister of Finance, Tito Mboweni, will affect their decision.
Budget Speech 2019 shows significant inefficiencies still plague SARS
This year’s Budget Speech highlights the inefficiencies that are still being faced by the South African Revenue Service (SARS). To start, it should be noted that all of the major tax categories underperformed last year. Revenues from personal income tax, for example, had to be revised downwards this year by R8 billion, and corporate taxes by around R12 billion.
The financial burden that could still await SA’s poor
While it seems as though South Africa’s lower economic classes have been given some relief in the 2019 Budget Speech, there may still be one more development in the pipeline that could weigh heavily on the poor.
Take the bitter with the sweet...
The 2019/2020 budget speech was delivered on 20 February 2019 and unfortunately, the news is not good for the man on the street. South African’s will be paying for the additional revenue generated. All South African’s will have to tighten their budgets as the cost of living increases.
Financial Emigration
Do I need to “financially” emigrate, to avoid having to pay tax on my foreign employment income from March 2020?
There is a big concern amongst South African nationals working abroad ahead of the change in legislation coming into effect on 1 March 2020. Many are scrambling to their bankers to financially emigrate (emigration for purposes of exchange control) to avoid having to pay more tax to the South African Revenue Service (SARS).
There is a big concern amongst South African nationals working abroad ahead of the change in legislation coming into effect on 1 March 2020. Many are scrambling to their bankers to financially emigrate (emigration for purposes of exchange control) to avoid having to pay more tax to the South African Revenue Service (SARS).
You can bet on a Gambling Levy in South Africa
The introduction of a ‘gambling levy’ was once again proposed in the 2019/20 budget speech by Minister Tito Mboweni to mitigate the negative effects of excessive gambling.
What SARS’ statement on religious institutions really means
In a recent statement, Mark Kingon, the acting commissioner of the South African Revenue Service (SARS), made it clear that the revenue service would ensure religious institutions – which are usually exempt from tax – are tax compliant.