SARS in Action

Common reporting standards (CRS) SARS is receiving information and now acting on the CRS automatic exchange of information with eighty-seven foreign jurisdictions concerning RSA taxpayers with offshore investments. Special voluntary disclosure program (SVDP) In...

Prescription – Assessments v tax debt

Taxpayers raising the procedural defence of prescription to a notification from SARS demanding tax payment of an amount of some historic tax year must distinguish between a prescribed assessment and a historic tax debt, since different prescription periods apply. For...

Proposed restrictions on retirement funds

Access upon emigration National Treasury has issued a draft Explanatory Memorandum on the Draft Taxation Laws Amendment Bill 2020, dated 31 July 2020. Under para 1.4 of the Explanatory Memorandum, the proposal is made to amend the definitions of a ‘pension...