Normally, you must keep all your accounting records in South Africa.
SARS will only allow you to store them outside the country if you meet certain conditions.
One of these is that if you... [read more]
Great news! If you don’t agree with a SARS assessment, you can ask it to give you reasons on how it did the tax calculation. This is called a “Reasons for assessment” request and it’s one of... [read more]
You must keep 16 of your financial records for five years in case SARS audits your business (Vat Act).
If SARS comes around and doesn’t find these records, it could penalise you. Or worse,... [read more]
By now you should know you have to pay Capital Gains Tax if you make a capital gain when selling a company asset.
But what happens if you make a capital loss? This is when the base cost of the... [read more]
Disclaimer Copyright 2015, Fleet Street Publications (Pty) Ltd. The information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. No action or inaction should be taken based solely on the contents of this publication. We do research all our recommendations and articles thoroughly, but we disclaim all liability for any inaccuracies or omissions found in this publication. No part of this publication may be reproduced or transmitted in any form or by means of electronic or mechanical, including recording , photocopying, or via a computerised or electric storage or retrieval system without permission granted in writing from the publishers.