Compliance Archives

The Case for Client Accounting Services: Questions Every Business Owner Should Ask

As a business owner, it’s crucial to ensure that your financial management practices are robust and reliable. Ask yourself the following questions to evaluate your current situation. If any of your answers are “no,” it’s time to consider our Client Accounting Services (CAS): – Are your financial records always accurate and up to date? – […]

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SARS Penalties: Beware

Compliance, TAX / Kobus Coetsee

SARS imposes various penalties for non-compliance with tax regulations, which can be significant and severe. These include: 1. Administrative Non-Compliance Penalties: Applied for failures such as late submissions of returns or payments, calculated based on a percentage of the amount due or a fixed fee. 2. Understatement Penalties: Levied when taxpayers’ returns understate their tax

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VAT Capitec vs. SARS: VAT implications clarified

Compliance, Insight, TAX / Kobus Coetsee

The essence of the court’s finding in the Capitec case revolves around the determination that the provision of free loan cover by Capitec was not truly without cost. While the cover was offered without charge to clients, it was an integral part of Capitec’s business strategy to attract customers and enhance its competitive position. The

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