National Treasury yesterday released the draft bills for public comment, which once approved will serve to effect the legislative amendments announced as part of the 2019 Budget Review. Of interest to the individual taxpayer and especially one whom has surplus funds available for investment is the proposed changes to cap the tax deduction available in…
By George Williams, Director of Risk Advisory Services at BDO Audit committees are an organisation’s primary resource for oversight of the financial reporting process, the audit process, the company’s system of internal controls and compliance with laws and regulations. However, recent corporate failures, and some of the revelations emerging from the Zondo Commission of Inquiry, indicate…
Section 12R of the Income Tax Act 52 of 1962, as a consequence of an initiative by the Department of Trade and Industry, was introduced in 2014 to enhance trade through the Special Economic Zone Act 16 of 2014 and attract direct foreign investment. The benefits Companies qualifying under section 12R are not taxed at…
B-BBEE compliance for companies is not a legislative requirement. Companies are not required to disclose their B-BBEE status or verify their status. It is seen as business requirement. However, the B-BBEE Act requires that all JSE listed entities must submit a compliance report on the status of their B-BBEE, on an annual basis, within the…