Tax

COVID-19 AND SMMEs

Covid-19 & SMMEs The notorious coronavirus, also known as COVID-19 is causing a slowdown in trade, not only in South Africa but worldwide. In the past weeks, we have seen a lock-down of countries such as China and Italy. South Africa is no exception, on the 23rd of March 2020, the President announced that SA [...]

SARS and Business Rescue – Part 3

SARS AND BUSINESS RESCUE (THIRD OF THREE DELIVERIES) 23 November 2015 Given the relatively short timeframe to which the work of the Business Rescue Practitioner (BRP) is subject, a full due diligence investigation of tax issues and compliance cannot be undertaken and the BRP cannot warrant the information upon which returns [...]

SARS and Business Rescue – Part 2

SARS AND BUSINESS RESCUE (SECOND OF THREE DELIVERIES) 20 November 2015 Often, in Business Rescue matters audited financial statements are not available to support submitted returns to SARS and the internal accounting records are inadequate.   The timeframes for the compilation of the initial assessment of the business by the Business [...]

SARS and Business Rescue – Part 1

SARS AND BUSINESS RESCUE (ONE OF THREE DELIVERIES) 16 October 2015 Tax is central to any rescue or restructuring process. There are two main areas for consideration by the Business Rescue Practitioner (BRP): The taxing statutes (value added tax (VAT), pay as you earn (PAYE), income tax and capital gains tax); [...]