South Africa's Taxman To Cut Tax Season By a Month

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South African Institute of Professional Accountants

Africa Business Radio

25 episodes

3 months ago

The South African Institute of Professional Accountants (SAIPA) is one of the leading accountancy institutes, representing and supporting its members to fulfill the increasing demands of businesses in South Africa’s growing economy by equipping the Professional Accountant (SA) with the latest knowledge, techniques, and accreditation required to render key services.
Weekly podcasts by industry-experts bring you thought-provoking insights into issues facing the accounting sector.
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South Africa's Taxman To Cut Tax Season By a Month - Here's What You Need To Know

South African Institute of Professional Accountants

9 minutes

7 years ago

South Africa's Taxman To Cut Tax Season By a Month - Here's What You Need To Know

Earlier in May 2018, The South African Revenue Services made a proposition to cut tax season, this got different reactions from the different stakeholder groups.
Tax practitioners and industry bodies expressed concerns that this might bring about pressures on taxpayers and tax practitioners on meeting the new deadlines.
Later in the month, SARS made an official announcement on its website that it has decided to cut the 2018 tax season for non-provisional taxpayers (individual taxpayers who earn a salary and who do not have additional income sources such as interest or rental income) by one month to allow more time for finalising verifications and audits before year end. With this announcement, the indication is that SARS must have consulted with relevant stakeholder groups and got their buy-in.
Ms. Faith Mgwenya joins Nqobani Mzizi on business today in Africa to discuss this and how the South African Institute of Professional Accountants view this new development.

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