Corporate News of Relevance
With the introduction of the New Companies Act of 2008 , the retention of important records table has been changed, kindly download the new release and take note that the full copyright remains with SAICA regarding this manual. This information is provided for educational purposes and for the promotion of access to open legal information.
| guide-on-retention-of-records-updated-august-2011.pdf |
Introduction of VAT Dashboard
On 26 September 2011, SARS will implement the Refund Dashboard, a function that will enable you to view the reasons why your refunds may not have been paid out and what actions may be required of you. Please note that only refund statuses from March 2011 will be displayed on the Refund Dashboard.
On 26 September 2011, SARS will implement the Refund Dashboard, a function that will enable you to view the reasons why your refunds may not have been paid out and what actions may be required of you. Please note that only refund statuses from March 2011 will be displayed on the Refund Dashboard.
| vat-dashboard-letter.pdf |
Calculating your correct tax fraction for VAT purposes
Review the below memoranda explaining the correct manner to compute your tax fraction to the 5th decimal.
Review the below memoranda explaining the correct manner to compute your tax fraction to the 5th decimal.
| vat_tax_fraction.pdf |
Source Codes for Trading Activities
Detailed listing of relevant source codes for profit and loss declarations.
Detailed listing of relevant source codes for profit and loss declarations.
| source_codes_2012_tax_season.pdf |
Objection Procedures to be followed for Corporations and Trusts
Under Government Gazette notices it would appear that Corporations and Trusts are not obligated to submit an ADR1 form , however it should comply with Section 81 and Section 107A of the Income Tax Act 58 of 1962.
Internal policies currently being adopted by SARS however differ from the related Government Gazette Notices and it is recommended that an ADR1 form still is issued to SARS.
Under Government Gazette notices it would appear that Corporations and Trusts are not obligated to submit an ADR1 form , however it should comply with Section 81 and Section 107A of the Income Tax Act 58 of 1962.
Internal policies currently being adopted by SARS however differ from the related Government Gazette Notices and it is recommended that an ADR1 form still is issued to SARS.
| adr1.pdf |
SARS Payment Rules for 2012
When paying SARS any taxes the following document details the allowable methods for 2012.
When paying SARS any taxes the following document details the allowable methods for 2012.
| sars_payment_rules_2012.pdf |
Interpretation Notes Register for All taxes effective 01 March 2012
With the recent removal of certain interpretation notes , one must be circumspect with the current interpretation notes in effect to obtain the necessary reliance.
With the recent removal of certain interpretation notes , one must be circumspect with the current interpretation notes in effect to obtain the necessary reliance.
| interpretation_notes_register_all_taxes_1_march_2012.pdf |