Employment tax incentive
South Africa’s Minister of Finance announced an increase in the Employment tax incentive with effect from 1 March 2022.
Alert 37
In this week's alert:
Third party data submissions
The SARS third party data submission process for the period 1 March 2021 – 28 February 2022 opened on 01 April 2022 and will close on 31 May 2022.
Financial year-end change
Taxpayers can apply for a financial year-end change of their Corporate Income Tax (ITR14) return. This alert provides the relevant steps for different types of companies.
Section 20: Assessed Losses 2022
Assessed Loss restriction implemented
Taxpayer W v CSARS
In this Tax Court case, the taxpayer appealed against the decision of SARS to levy an understatement penalty in terms of section 222 of the Tax Administration Act No 28 of 2011.