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Administration Updates

Update: VAT increase and how it impacts you.

As you may be aware, the Minister of Finance announced a value-added tax (VAT) rate increase in his budget speech on 21 February 2018. The standard rate of VAT will change from 14% to 15% with effect from 1 April 2018 (the Effective Date). This means that from the Effective Date, all taxable goods or services supplied by Sanlam, are subject to the VAT rate of 15%.

Budget Speech 2018

Finance Minister Malusi Gigaba’s maiden budget speech was keenly anticipated by South Africans wanting clarity on how he proposes to plug the gaping budget deficit. In his own words “This is a tough, but hopeful budget”.

Tax Administration Laws Amendment Bill, 2017

Exemption from submitting a return in respect of dividends The Tax Administration Laws Amendment Act,  2016,  exempts  persons who derive a dividend from a tax free investment from submitting a return in respect of...