Page 4 - Disclosure Programme News Today

Tax compliance is a requirement for private and public entities. How is South Africa encouraging tax compliance?

: In a significant stride towards a tech-driven future, Dubai has once again demonstrated its unwavering commitment to technological advancement with the recent launch of the Dubai Centre for Artificial Intelligence (DCAI).Launched by His Highness Sheikh

DUBAI, 22nd June, 2023 (WAM) -- In a significant stride towards a tech-driven future, Dubai has once again demonstrated its unwavering commitment to technological advancement with the recent launch of the Dubai Centre for Artificial Intelligence (DCAI). Launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, the ground breaking initiative further strengthens Dubai's status as one of the world's most technologically...

On 24 May 2023, the South African Revenue Service (SARS) released Interpretation Note 129 (IN129), which provides clarity on the interpretation and application of the phrase “maximum tax rate applicable to the taxpayer” in section 222(5) of the Tax Administration Act 28 of 2011 (“TAA”). This is specific to when the applicable tax rate to the shortfall of payment of tax, by a taxpayer, as a result from an understatement of their tax liability is applied under subsecti...

Kuala Lumpur: Seeking to build up Malaysia’s revenue, the Inland Revenue Board (IRB) is also offering a full reset for those who have yet to pay their taxes to do so through its Special Voluntary Disclosure Programme 2.0 (SVDP) programme, The Star reported.

CYBERJAYA: Those who have been evading taxes in the past, whether individuals or companies, will have a chance for a clean slate under an amnesty programme, says the Inland Revenue Board (LHDN).

PETALING JAYA: The Inland Revenue Board (LHDN) must be clear about its “zero-penalty” Special Voluntary Disclosure Programme 2.0 (SVDP) to avoid misunderstandings or confusion, say experts.

KUALA LUMPUR, May 18 — Seeking to build up Malaysia’s revenue, the Inland Revenue Board (IRB) is also offering a full reset for those who have yet to pay their taxes to do so...

In a recent media release, dated 11 May 2023, and focused on VAT Refunds and Registrations, the South African Revenue Service (“SARS”) stated that it is committed to paying legitimate refunds to qualifying taxpayers, as and when they become due. In line with this commitment, SARS reported that during the 2022/23 financial year, a record R381bn in refunds were paid, of which, R319bn were VAT refunds. This appears to be in line with their strategic objective to make compliance easy, an...

Long gone are the days where SARS relied solely on taxpayer transparency in the completion of tax returns, including the accurate disclosure of taxable income, write Jashwin Baijoo and Richan Schwellnus.