Forward email
May and CompanyAccounting | Auditing | Tax Specialists

October 2014 NEWSLETTER
Tax Compromises With SARS: The Julius Malema Case Shows How To Do It
If you are unable to pay your tax debts, you can in appropriate cases ask SARS for a compromise agreement.  

How?  The recent high profile case of taxpayer Julius Malema, which has been the subject of much media attention and public announcements by both Mr. Malema and SARS, is a perfect illustration.  Mr. Malema had not submitted a tax return since 2010 and when he did was assessed by SARS for R16 million. When he failed to pay the assessment, SARS began sequestration proceedings against him. A provisional sequestration order was granted. During the course of this process, it emerged that .....
read more
Economics 101: A Lesson For South Africa - Scrabble, Globalisation And The Third World 
In 1776, the Netherlands had four times the per capita income of the poorest countries. By 1980, this had grown to forty times for China and twenty four times for India.

Scrabble in a globalised world

Economists explain this divergence by the Scrabble analogy. If you have more letters than your opponents, you are bound to do better as you can make more words than them....
read more
SARS Goes Global Investigating Your Tax Affairs 
SARS has extended its ability to query, interrogate and find out about our tax matters.  What isn't so well known is that these powers are rapidly extending across the globe.

South Africa has signed multilateral and bilateral taxation agreements with over 60 nations (and counting). This is part of a global trend as countries seek to maximise the tax revenues due to them by fighting tax evasion and avoidance across international borders.
read more
Snippets And News Desk 
New Tax Scams 

SARS frequently warn of new frauds perpetrated on taxpayers. The latest overseas scam is the “IRS phone fraud” which involves IRS (the American SARS) impersonators phoning taxpayers to demand immediate payment of back taxes or face – 
  • Arrest
  • Deportation
  • Suspension of their business or driver’s licence.
read more
SARS Branch Locator and Queue Times  
SARS has introduced a new webpage to help taxpayers. It locates the nearest branch and also provides taxpayers with information on how many people are in the queue and the average time it is taking to deal with a query.

Some functions seem to work only intermittently but if you need to visit SARS, give it a try by following these steps -
read more
Discontinuation of SARS support for unregistered tax practitioners 
Due to the large number of unqualified tax practitioners, SARS has insisted on a new registration process. Tax practitioners are now required to be registered with a recognised controlling body (such as SAICA) and with SARS. Recognised tax practitioners have been given a new number by SARS. 
read more
South Africa – punching above our weight 
  • We have 11 Nobel laureates. This is more than Spain, Mexico, Argentina, China and India. The United States leads with more than 300 winners.
  • South Africa has the 25th largest economy in the world.
As many say, the country punches above its weight.
Your Tax Deadlines For October 
The Employer Interim Reconciliation (1 March to 31 August) is due by the end of October.   

If you use e-Filing, SARS have improved this process to make it easier for taxpayers.   


The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

© DotNews.  All Rights Reserved.

  A Client Connection Service by DotNews