Latest News

March 23, 2018

RECENT CHANGES TO SECTION 7C

BACKGROUND Section 7C of the Income Tax Act came into effect on 1 March 2017. This section specifically deals with Interest Free- or Low Interest Loans to Trusts. The aim […]
March 23, 2018

RESEARCH AND DEVELOPMENT: INCOME TAX TREATMENT

The need to become more technology proficient and being actively engaged in the scientific and technological innovation space, has become a top priority for a lot of companies because of […]
March 19, 2018

VAT increase and accounting systems

As you are aware, the National Treasury announced an increase in Value Added Tax (VAT) from 14% to 15% effective 1 April 2018. We urge you to ensure that your […]
February 23, 2018

2018/2019 Tax Guide Now available for download

The 2018/2019 MMS Tax Guide is available.Please click here to download the latest guide.
February 22, 2018

2018 Budget Speech Summary

On 21 February 2018, Finance Minister Malusi Gigaba delivered his 2018 Budget Speech. How does the Budget Speech affect you or your business? Hereby a summary of the most significant […]
February 19, 2018

UIF obligations on foreigner/expatriate employees in South Africa

There are frequent questions with regards to UIF contributions and benefits payable to foreign/expatriate employees in a Company. Under the Unemployment Insurance Contributions Act, these amendments have an effect as […]
February 19, 2018

Separating business and personal expenses (part 1):
Why is it necessary?

Owners of part-time and small businesses e.g. multi-level marketers, estate agents, consultants and self-employed sole proprietors, often use one bank account for personal and business purposes, resulting in business and […]
February 19, 2018

Provisional Tax penalties on underestimation of income

Provisional taxpayers are generally those taxpayers who earn income from sources other than a salary. In other words, PAYE is not deducted from these other sources of income on a […]
February 19, 2018

Terminating temporary VAT relief of residential property letting

While most sectors of the South African economy celebrated the expectations of stable growth under a more business-friendly regime in 2018, these celebrations would have been somewhat subdued around the […]
February 6, 2018

A message from the MMS Group directors

With the new year in full swing, it is important to take a moment and reflect on 2017 and all the highlights to give us that extra boost of motivation […]