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Since the South African Revenue Service (SARS) announced the changes to the Tax Compliance Status (TCS) process, the media has been abuzz. To cut through this noise, Tax Consulting South Africa and the Financial Planning Institute of South Africa (FPI) held a short webinar on 10 May 2023 unpacking all these changes, with a step-by-step walkthrough of the new process. SARS’ changes to the TCS process
Having seen the contents of the budget speech retold endlessly in the media, many business professionals are still no wiser about how their companies will be impacted by the announced policy changes. To assist them, Tax Consulting South Africa will host a three-part webinar series to unpack practical insights and solutions that help to understand how you can progress in your business, as opposed to just understanding the theoretical policy changes revealed in the budget speech and media.
Like that found in Yin and Yang, all things must be balanced in life, which rings true even for a competent revenue authority, as the South African Revenue Service (“SARS”) has demonstrated over the last fiscal period, with Commissioner Kieswetter stating that “we strive to balance the trade-off between taxpayer service and risk management”. Not only has SARS’ collections over the last fiscal period, exceeded the budget estimate, but, accordingly to Kieswetter, SARS has also paid out a record high amount of refund, to deserving and compliant taxpayers, eviden...
A sure-fire way for Sars to gauge that something is amiss, is to look at someone’s lifestyle.