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September 2023
NEWSLETTER
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Using a “Risk Matrix” to Risk-Proof Your Business
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As an entrepreneur or business leader, working out the risks your business faces is critical to planning for the future and ensuring you are ready when disaster strikes. A “risk matrix” is a tool designed to help in this scenario as it allows you to plot and compare the likely risks your business faces and therefore establish a hierarchy of threat.
Here is our guide to creating and using risk matrices to help you prepare for the threats that could scupper your business.
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Common Tax-Related Criminal Offences, and How to Avoid Them…
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Most tax criminal offences are not premeditated acts of tax evasion, but ordinary events that now - in terms of the Tax Administration Act - expose individuals and businesses to the possibility of committing offences that carry harsh penalties, including fines, imprisonment, and other implications for those convicted.
With the requirement that a tax criminal offence is committed “wilfully” now removed, even inadvertent or administrative errors can be penalised to the maximum, which is why SARS itself says that professional tax assistance is crucial to avoid these tax criminal offences.
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Your Tax Deadlines for September 2023
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- 7 September - Monthly Pay-As-You-Earn (PAYE) submissions and payments
- 28 September - Excise Duty payments
- 29 September – End of the 2nd Financial Quarter, Value-Added Tax (VAT) electronic submissions and payments, CIT Provisional payments where applicable.
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Disclaimer
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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.
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