CATEGORIES
- (1) Negotiating Tax Debt and Payment Arrangements with SARS
- (14)Accounting
- (2)Accounting for Income Tax
- (7)Administration of Estates
- (1)Application of tax rates, s6(2) rebates
- (1)Assessed losses
- (4)Audit, Reviews & Other Services
- (9)Blogs
- (8)Capital Gains Tax
- (1)Capital Gains Tax - Individuals Tax
- (1)Capital Gains Tax Implications of Trusts
- (2)Case study: Home office expense
- (1)Case study: Travel allowances
- (1)Company Formations
- (117)Corporate Tax
- (9)Customs and Excise
- (2)Deceased Estate
- (1)Deductions Pre-trade and prepaid expenses
- (1)Deferred tax assets and deferred tax on equity
- (1)Deregistration
- (2)Employer and Employee (PAYE and UIF Specific)
- (1)Estate Duty
- (8)Faculty News
- (2)Farming
- (142)Individuals Tax
- (1)Input - Customs Duty
- (3)Interest
- (13)International Tax
- (17)Legislation
- (1)Low interest rate loans and loan subsidies
- (1)Nature of the rights of beneficiaries
- (1)Notional input tax
- (8)Payroll
- (2)Practical Payroll
- (2)Provisional tax (Link with other Taxes)
- (1)SARS Dispute Resolution
- (4)SARS Issues
- (1)Salaried Employees
- (127)Tax Administration
- (2)Tax Administration Part 2B: Resolving Problems with SARS using the Tax Ombud
- (1)Tax Administration Part 3B Dispute Resolution - Objection and appeal
- (2)Tax Update
- (2)Tax implications of loans to trusts
- (1)Tax residence
- (1)Tax returns and payments
- (1)Transfer-Pricing
- (1)Trust Income / Gain Allocations
- (1)Trust types and income allocations
- (5)Trusts
- (66)VAT
- (3)VAT periods
- (1)Wear and tear allowances
- (1)Zero Rated
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Enhancements to Trusts’ Beneficial-Ownership Information
- 02 November 2023
- Tax Administration
- SARS
SARS aims to record all beneficial owners of registered Trusts to comply with the Financial Action Task Force requirements. Information in this regard must be submitted via e-Filing. These documents may include:
- An organogram or illustration depicting effective control of the Trust. Where the Beneficial Ownership is in the form of other legal arrangements or legal entities, this should be provided in a separate attachment.
- An Excel spreadsheet containing the above information; or
- Other documents that elaborate on Beneficial Ownership in relation to the Trust.
When capturing the beneficial ownership-information, it is mandatory for the current year’s return to submit at least one document that relates to beneficial-ownership information. If there are more than 20 beneficial owners, the taxpayer must upload a supporting document that reflects the additional beneficial owners.
Submit all minutes, excluding those dealing with internal trustee governance arrangements or administrative matters. A guide on Trusts is available here: IT-AE-36-G02 – Comprehensive Guide to the Income Tax return for Trusts – External Guide
Source: SARS