Analysis of the Provisional Tax Legislation: Overview

The provisional tax system contains many complexities and mistakes or oversight of these can be very costly both in terms of time and money. One aspect of these complexities came to light earlier in 2022 when SARS imposed penalties on the late submission of tax returns by taxpayers who utilised the special tax submission deadline applicable to “provisional taxpayers” whereas SARS asserted that they were in fact, not provisional taxpayers. Apart from the fundamental question of who/what is a “provisional taxpayer”, there are also numerous other areas of the legislation that cause confusion and costly errors by taxpayers, such as the penalties for underestimating taxable income, penalties and interest on underpayment of provisional tax and making sure that you pay the correct amount of provisional tax without having to obtain a refund from SARS.

This two-part provisional tax series has been especially compiled to provide a practical and up-to-date explanation and analysis of the provisional tax legislation to enable attendees to properly manage their provisional tax obligations, thus avoiding costly errors, and excessive time spent managing penalties and interest.

Professor Jackie Arendse has presented updates for The Tax Faculty for many years and audiences always appreciate her ability to explain the complex tax matters in a practical and comprehensible manner so that attendees come away with a real understanding of the content and an ability to apply their knowledge in business and personal contexts.

The webinars will equip tax practitioners and business owners to manage their provisional tax obligations in the most tax-efficient manner.

Webinar 2: Analysis of the provisional tax legislation

In this webinar, the following will be unpacked:

• Late payment penalties – when and how these arise?
• Penalties on underestimate of taxable income – when and how these arise?
• Interest on underpayments and overpayments of provisional tax.
• When and how can penalties and interest be remitted?
• What if the taxpayer has difficulty making the provisional tax payment?
• Dispute resolution aspects.

Click here to book for the full series and receive 25% discount.

Competencies developed in this CPD

After attending this webinar-series, you will be equipped to:

• Identify when a person is/is not a provisional taxpayer.
• Advise clients on how to manage their provisional tax obligations.
• Correctly calculate the optimal amount of provisional tax to pay in changing circumstances.
• Advise clients on how to manage penalties and interest related to provisional tax.
• Navigate the administrative aspects of provisional tax, related penalties, interest, and disputes with SARS.

Presenter

Professor Jackie Arendse 

B Acc (Wits) M Acc (Tax) (UKZN) Chartered Accountant (SA) PhD (Accounting) (Rhodes)

After completing her training at Deloitte and qualifying as a Chartered Accountant, Jackie was Group Financial Accountant for a top-100 listed company before moving to academia where she developed her skills as an academic – authoring, lecturing and researching on a wide range of tax areas – and also completing her Masters and PhD qualifications.

She served as Project Director: Tax at the South African Institute of Chartered Accountants (SAICA) between 2004 and 2006, managing relationships with key stakeholders (especially SARS and National Treasury), enhancing SAICA members’ tax competence and representing SAICA in discussions with Government on tax policy and legislation.

Jackie was Head of the School of Accountancy at Wits University from 2009 until 2013 and has been Head of the Department of Accounting at Rhodes University from 2014 until 2020. She now works as an independent consultant, trainer and tax specialist and is a sought-after presenter of tax seminars and webinars.

Jackie has presented tax training to tax practitioners, entrepreneurs and businesses around the country for many years and has authored numerous books, articles and publications in the field of taxation including Silke on South African Income Tax. She is the managing author of Silke on Tax Administration, published by LexisNexis and updated annually.

Event investment

Free for Tax Practitioner and Tax Accountant CPD subscribers. Not a CPD subscriber yet? Click here to register now.

Regular price: R495.00

SAIT price: R395.00

Group price 1 (max 5 people): R950.00

Group price 2 (max 10 people): R1 800.00

Group price 3 (max 15 people): R2 500.00

Payments and cancellations

• All payments must be made by EFT or by credit card, at least three working days before commencement of an event.
• Kindly note that should payment not be received two days after the event, legal action will be taken.
• Proof of payment will be requested upon registration if payment does not reflect on The Tax Faculty’s bank account.
• Only written notice of cancellation will be recognised.
• Conditions:
  • If the cancellation occurs more than four working days prior to the event, no cancellation fee will be charged.
  • If the cancellation occurs less than four working days prior to the event a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• The Tax Faculty’s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.