Tax Administration
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2020 Tax Relief Measures during Covid-19: Webinar 5: Consumer Markets - Free Webinar

CPD Hours: 2

Price: R0.00


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2020 Tax Relief Measures during Covid-19: Webinar 5: Consumer Markets - Free Webinar


President Ramaphoza announced a number of tax relief measures amid the Covid-19 disaster.

SARS recognise that tax professionals are central to support taxpayers and small businesses during the period of national disaster and announced that SARS will be issuing extensive communication on the implementation of the tax measures through its strategic stakeholders.

This free Webinar is part of a series of Technical Alerts and Webinars that the Tax Faculty, SAIT and SA Accounting Academy will facilitate to keep you updated, including important changes in the SARS systems and processes.

Overview

Webinar 5 will be dedicated towards the challenges facing the supplier of goods and services to the final consumer. In particular, we will draw a link between the Consumer Protection Act and the Income Tax and Value-Added Tax Acts.

We will inter alia discuss the following:

  • How the Consumer Protection Act affects the accrual of income by the taxpayer.

  • Prepayments, section 24C, cancellations and rescheduling of events.

  • What are the VAT and Income tax implications of various types of penalties and additional charges levied by the suppliers of goods and services where services are cancelled or postponed by consumers?

  • What are the VAT and income tax implications of increased levels of bad and doubtful debts?

  • What are the income tax and VAT implications where the taxpayer incurs penalties and interest due to e.g. late payment of rent?

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