Monthly SARS and Tax Update - May 2023
Presenters : Prof. Jackie Arendse
Overview
Our monthly SARS and Tax Update will bring you up to speed with ongoing developments in the South African tax environment. This month, prof Jackie Arendse will be highlighting:
- Latest tax judgements:
- VAT 1922 Input tax deduction and understatement penalty
- I-CAT International Consulting (Pty) Ltd v CSARS: s 99 and request for reduced assessment under s 93
- New SARS documents:
- Draft legislation on solar panel incentives
- New tax compliance status (TCS) reporting system effective from 24 April 2023
- Changes to the Dispute resolution system
- Third party returns required to be submitted - now including trusts
- And any other new developments
Competencies developed in this video
- Updated with important and current changes in tax legislation and SARS practice
- Competent to apply the key aspects of new SARS documents published (i.e. binding rulings, interpretation notes, SARS guides/notices, etc.)
- Competent to advise clients about the impact of the latest tax amendments on their tax compliance and planning opportunities.
- Able to train your staff to prepare SARS compliant tax returns considering the latest amendments and SARS practice.
- Informed about topics to include in a client communique to alert you clients about recent developments impacting their tax compliance and planning opportunities.
- Competent to revise the tax planning strategy of clients.