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Taxpayers in South Africa need to brace for SARS collection targeting

Taxpayers in South Africa need to brace for SARS collection targeting
businesstech.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstech.co.za Daily Mail and Mail on Sunday newspapers.

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Treasury's mission to make South Africa's tax regime mo...

Daily Maverick 168 weekly newspaper.
Well aware that consumers are financially stretched, that the corporate sector is struggling – with the notable exception of mining – and that tax morality is, shall we say, challenged, the National Treasury surprised with limited tax relief for companies and consumers at Budget 2021.
Notably, it scrapped its R40-billion, three-year programme of planned tax measures that were announced at the Medium-Term Expenditure Framework in October. At the same time, Treasury provided above-inflation “bracket creep” relief for marginal-income taxpayers.
But where the taxman giveth, he also taketh away. As suspected, excise duties were hiked by 8%, double the inflation rate but unsurprising given the health concerns relating to smoking and drinking that have been raised during the Covid-19 crisis. ....

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R3 billion investment into SARS is a big warning to taxpayers in South Africa

R3 billion investment into SARS is a big warning to taxpayers in South Africa
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The South African Revenue Service (SARS) will be allocated R3 billion to upgrade its technology and infrastructure systems, and expand its specialised audit and investigative skills to prevent tax avoidance in the country.
“In this coming fiscal year, SARS will establish a dedicated unit to improve compliance of individuals with wealth and complex financial arrangements,” said finance minister Tito Mboweni, during his 2021 annual budget speech in Parliament on Wednesday (25 February).
“This first group of taxpayers have been identified and will receive communication during April 2021. In support of these efforts, we request that this house approve an additional spending allocation to SARS of R3 billion over the medium-term.” ....

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Some rich South Africans can expect a letter from SARS – here's who should be nervous

Some rich South Africans can expect a letter from SARS – here's who should be nervous
businessinsider.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.co.za Daily Mail and Mail on Sunday newspapers.

South Africa , South Africans , Doelie Lessing , Tito Mboweni , Chris Potgieter , Old Mutual Wealth Trust Company , Sa Revenue Service , Davis Tax Committee , Old Mutual Wealth Trust , Common Reporting Standards , Charles De Wet , பழையது பரஸ்பர செல்வம் நம்பிக்கை நிறுவனம் , ச வருவாய் சேவை , டேவிஸ் வரி குழு , பழையது பரஸ்பர செல்வம் நம்பிக்கை , பொதுவானது புகாரளித்தல் தரநிலைகள் , சார்லஸ் டி ஈரமான ,