Latest News

October 4, 2018

Administrative penalties for Corporate Income Tax (CIT) to be imposed

SARS will be imposing administrative penalties from December 2018 for outstanding Corporate Income Tax (CIT) returns. Administrative penalties will be imposed on companies that receive a final demand to submit […]
August 17, 2018

How to survive a SARS audit?

You have submitted your annual tax return and sigh a sigh of relieve as you sit back and plan how you will be spending your SARS refund. BUT WAIT! WHAT?! […]
May 18, 2018

SARS’S STANCE ON THE TAX TREATMENT OF CRYPTOCURRENCIES

The South African Revenue Service (SARS) will continue to apply normal income tax rules to cryptocurrencies and will expect affected taxpayers to declare cryptocurrency gains or losses as part of […]
April 17, 2018

Employer Annual Reconciliation due

Employers should be aware that Employer Annual Reconciliation is due for submission at SARS from April 2018. If the relevant deadlines are missed, certain penalties will apply. Penalties are charged […]
November 29, 2017

SARS to intensify action against tax offenders

Despite the fact that SARS has upheld their philosophy of education, service, and thereafter enforcement, they have noticed an increase in taxpayers not submitting their tax returns by the stipulated […]
August 30, 2017

5 Top tips to use during a SARS VAT Verification

Following a discussion with fellow senior employees at the MMS Group we felt it necessary to share some essential tips regarding the SARS VAT verification process. It is essential that […]
April 25, 2017

VDP and SVDP, what does this mean for me?

What is VDP? A VDP (Voluntary Disclosure Programme) is a process by which SARS extends an opportunity to taxpayers to regularise their tax affairs by disclosing any defaults on their […]
April 5, 2017

SARS releases new ruling on documentary requirements for VAT purposes

In February 2015 the South Atlantic Jazz Festival (Pty) Ltd successfully appealed a judgment of the Tax Court to the Full Bench of the Western Cape High Court (reported as […]
November 25, 2016

Will SARS allow you to deduct your company/close corporation’s assessed loss?

Under normal circumstances SARS will allow a taxpayer to carry forward the previous tax year’s assessed loss and set it off against the current tax year’s taxable income. However, there […]
April 25, 2016

Passive income and SARS

Have you ever investigated passive income opportunities to earn extra money? Did you consider the effect that earning additional income might have on your current income tax liability? If your […]