TaxCorporate TaxSouth African accountants await amnesty ruling

South African accountants await amnesty ruling

Organisations representing accountants have met with finance minister

Organisations, representing among others, South African accountants, have met
with the country’s finance minister
Trevor Manuel and
Pravin
Gordhan
, the SA Revenue Service commissioner to ask for an extension to a
deadline for tax amnesty for small businesses.

They must now wait to hear if they get a second chance – this all depends on
whether parliamentary committees approve legislation that would allow for an
extension.

Manuel is due to table the Taxation Laws Amendment Bill, which includes an
extension of the small business tax amnesty period.

The deadline for tax amnesty for small businesses with turnover of less than
R10m (£700,000) a year was last Saturday, after the original deadline of 31 May
was extended.

Further reading:

SA finance minister sets aside £1bn for World Cup

South Africa tightens up corporate governance

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