Duty / VAT / Tax

Outstanding Tax

The Receiver of Revenue do a risk analysis regarding outstanding taxes on both the transferor and the transferee on all transfer transactions…

Possible confusion regarding Provisional Tax penalties explained

Author : Piet Nel, SAICA‚Äôs Project Director. Possible confusion regarding Provisional Tax penalties explained: The South African Institute of Chartered Accountants (SAICA) has observed that there is some confusion in the market place regarding the penalties…

SARS’ guide to donations tax – 2019-08-28

SARS defines donation as a “gratuitous disposal of property”. “A donation requires an element of sheer liberality on the part of the donor, thus highlighting the requirement that the transaction must be gratuitous in nature.”

Stamp Duty Amendments Affecting Leases of Fixed Property

Author : SARS Stamp Duty Amendments Affecting Leases of Fixed Property The Stamp Duties Act, 1968 (Act No. 77 of 1968) was repealed with effect from 1 April 2009. It should be noted that all lease agreements executed on or after to this date are not liable to Stamp…

VAT or Transfer Duty

Very often the question arises as to whether the purchaser must pay transfer duty on a particular transaction or whether there is no transfer duty payable as the transaction is in fact a VAT transaction.