by alertsprofessionalservices | May 10, 2024 | Blog
As accountants, we have noticed over the past years a significant increase in VAT and Income Tax verifications and audits conducted by SARS. These reviews and audits are not limited to the refunds due by SARS but includes returns where payments have been due and paid...
by alertsprofessionalservices | May 10, 2024 | Blog
Income tax is the normal tax which is paid on your taxable income. Examples of amounts an individual may receive, and from which taxable income is determined, include the following – Remuneration (income from employment), such as, salaries, wages, bonuses, overtime...
by alertsprofessionalservices | Feb 16, 2024 | Blog
14 February 2024 Provisional Tax (IRP6) Submission Deadline at SARS – 29 February 2024. Provisional tax is not a separate tax from Income Tax. It is a method of paying tax due, to ensure the taxpayer does not pay large amounts on assessment, as the tax liability...
by alertsprofessionalservices | Jan 10, 2024 | Blog
IAS 1, Presentation of Financial Statements, is about to become an IFRS as it is being replaced by IFRS 18, Presentation and Disclosure in Financial Statements, likely to be issued early this year (2024). A significant change will be the introduction of new subtotals...
by alertsprofessionalservices | Nov 6, 2023 | Blog
VAT is a tax applied to the cost of the supply of goods and services by somebody who is registered as a VAT vendor. In a purchase agreement, it’s important to clarify upfront whether the purchase price of a residential property includes VAT and whether VAT or transfer...
