In The News South Africa

Terms of reference for SA Revenue Service to be announced this week, MPs told

PARLIAMENT, May 23 – The terms of reference and members of the commission of inquiry into the South African Revenue Service (Sars) will be announced by the president this week, MPs heard on Wednesday.   Briefing Parliament’s standing committee on finance, National Treasury deputy director general Ismail Momoniat said the commission would look into possible […]

Business In The News South Africa

Prima facie evidence for criminal prosecution against KPGM – EFF

JOHANNESBURG, April 18  – The Economic Freedom Fighters welcomed a decision by the Auditor-General to cancel contracts with embattled audit firm KPMG, and said there was evidence to prosecute some partners. Auditor-General Kimi Makwetu said on Tuesday his office had decided to terminate the KPMG contract, as well as that of fellow auditing company Nkonki […]

Business In The News South Africa

Normal tax rules apply to cryptocurrencies – SARS

JOHANNESBURG, April 10  – The South African Revenue Service (SARS) will continue to apply “normal income tax rules” to cryptocurrencies such as bitcoin and has urged taxpayers to declare cryptocurrency gains or losses as part of their taxable income, Moneyweb reported. “The growing popularity of cryptocurrencies such as bitcoin and ethereum and the rollercoaster ride […]