legislation and draft legislation

  • Tax Administration Laws Amendment Bill, 2023 ("TALAB 2023") | Explanatory Summary
    • The Explanatory Summary of the TALAB 2023 has been published in anticipation of the Bill's introduction in the National Assembly.
    • Find the Explanatory Summary of the TALAB 2023 here.

SARS publication

  • Notice and Media Release | SMS from SARS regarding outstanding returns
    • Taxpayers are advised to not respond or react to any message from SARS regarding outstanding returns and the intended prosecution thereof. SARS has apologised for the release of the SMS.
    • Find the notice here and the media release here.
  • eFiling information
    • SARS has introduced a new eFiling landing page that went live on 27 October 2023.
    • Find more information here.
  • Government Connect | Tax Practitioner Connect
    • These editions focus on providing clarity on certain tax compliance aspects such as the charging of contingency fees, eFiling, and expansion of the IT3 Third Party Data Reporting.
    • The Government Connect Issue 14 can be found here.
    • The Tax Practitioner Connect Issue 47 can be found here.
  • Release Notes | e@syFile Employer
    • SARS has released notes on e@syFile Employer version 7.4.1.
    • Find more information here.
  • External Guide to ITR12 Income Tax Return for Individuals
    • This guide was prepared to guide the completion of the ITR12 return and explain the sections of the Income Tax Act, 1962 that will be applied during the assessment process.
    • Find the guide here.

exchange control

  • Exchange Control Circulars
    • Circular no. 7/2023 regarding the name change of Shoprite Money Transfers (Pty) Limited was circulated.
    • Find a copy of the circular attached or here.
  • Exchange Control Circulars
    • Circular no. 8/2023 regarding the appointment of Grindrod Bank Limited as a Restricted Authorised Dealer was circulated.
    • Find a copy of the circular attached or here.

advance tax rulings

  • Binding General Ruling ("BGR") 62 (Issue 2) | Value-added tax implications of securities lending arrangements
    • BGR 62 (Issue 2) replaced the previous BGR 62 (Issue 1) dated 12 December 2022.
    • BGR 62 clarifies the VAT consequences for the lender in respect of the consideration the lender charges in terms of a securities lending arrangement.
    • Find a copy of BGR 62 (Issue 2) here.

customs and excise

  • Customs & Excise Act, 1964 ("Customs & Excise Act") | Tariff Amendment
    • Amendment to Part 1 of Schedule No. 1, by the substitution of Additional Note 6(a) to Chapter 22, to clarify that the products classifiable in tariff subheading 2206.00.19 are specifically limited to beverages. These beverages must be the result of the fermentation process of a liquor (wort) made from non-malted milled cereals, which are clearly listed in the table found in Chapter Note 2 of Chapter 11. Whether or not they have been flavoured, but not mixed with any other beverages and they must derive all their fermentable sugars solely from the liquor (wort), without the addition of any other sugars during or before the fermentation process.
    • The amendment applies with retrospective effect from 21 February 2021.
    • Find the notice here.
  • Customs and Excise Act, 1964 | Draft Notices for Public Comment
    • Draft amendment to insert new 8-digit tariff in Chapter 5, to provide for Ivory of elephants and rhinoceros in Part 1 of Schedule No. 1
      • Find the notice here.
    • Draft amendment to delete and to insert new 8-digit tariff in Chapter 12 to provide for re-classification of Rooibos
      • Find the notice here.
    • Draft amendment to insert new 8-digit tariff subheadings to provide for the different types of tomato paste (new inclusion on 18 September)
      • Find the notice here.
    • Draft amendment to insert new 8-digit tariff in Chapter 30 to provide for vaccines imported in bulk and those for retail purposes, in Part 1 of Schedule No. 1
      • Find the notice here.
    • Draft amendment to Chapter 72 to insert new 8-digit tariff subheadings to provide for new ranges in thickness, in Part 1 of Schedule No. 1
      • Find the notice here.
    • Draft notice in Chapter 41 to amend the description of tariff heading 41.07
      • Find the notice here.
    • Draft amendment to Chapter 94 to provide for the different furniture, in Part 1 of Schedule No.1 (updated 12 September)
      • Find the notice here.
    • Draft amendments to Part 1 of Schedule 1
      • Find the notice regarding insertion of additional note 8 to Chapter 22 here.
      • Find the notice regarding insertion of tariff subheading 2009.89.70 and 2009.90.30 to provide for nut juices and mixtures of nut juices here.

international

  • The Organisation for Economic Co-operation and Development ("OECD") | Webinar of Multilateral Convention to Implement Amount A of Pillar One ("MLC")
    • The webinar of the MLC was held on 26 October 2023.
    • Find a link to re/watch the webinar here.
    • Find the presentation of the webinar here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.