Removal of IT14SDs
From 16 September 2022, SARS will no longer require taxpayers to submit the Supplementary Declaration for Companies or Close Corporations
Alert 57
In this week's alert:
* Removal of the supplementary declaration for companies or close corporations
* Draft IN: The value-added tax treatment of debt collection
* Draft IN 112 (Issue 2): Section 18A audit certificate
* Average Exchange Rates
* Interest Rates
* BPR 377: Withholding of dividends tax at a reduced rate
* Removal of the supplementary declaration for companies or close corporations
* Draft IN: The value-added tax treatment of debt collection
* Draft IN 112 (Issue 2): Section 18A audit certificate
* Average Exchange Rates
* Interest Rates
* BPR 377: Withholding of dividends tax at a reduced rate
Draft IN: The VAT treatment of debt collection
A draft interpretation note (“IN”) has been published in draft by SARS, for public comment. The draft IN provides clarity on the VAT treatment of debt collection activities, whether undertaken by credit providers, in-house or outsourced to external debt collectors.
Draft IN 112 : Section 18A audit certificate
Issue 2 of interpretation note (“IN”) 112 has been published in draft by SARS, for public comment. The draft IN provides guidance on the interpretation and application of section 18A(2B) and (2C) in relation to the audit certificate that must be obtained and retained in specified circumstances for section 18A receipts issued by an approved organisation or a department.
Average Exchange Rates
SARS has published updated editions of the Average Exchange Rates Tables, A and B.
Interest Rates
SARS has published updated editions of the Interest Rate Tables (Tables 1 and 2), relating to the interest rates on outstanding taxes and interest rates payable on certain refunds of tax (Table 1) and interest rates payable on credit amounts (Table 2).
BPR 377: Dividends WHT at a reduced rate
SARS has published Binding Private Ruling (“BPR”) 377 which relates to the withholding of dividends tax at a reduced rate .