Capital Gains Tax (CGT) on Sales of Immovable Property
Selling land or other immovable property can be motivated by personal needs or to benefit from property appreciation, sometimes due...
PAYE Implications of Selling Assets to Employees
It's often said that ignorance of the law is no defense, and this certainly applies to the PAYE (Pay-As-You-Earn) implications...
Why unknown receipts suffer Corporate Tax
At times, businesses may receive funds in their bank accounts without being able to correctly identify the sender or depositor....
Heirs pay inheritance tax on life insurance payouts
Many people take out life insurance as a financial planning tool to ensure that their dependents, typically spouses and children,...
Free group accounting services are vatable
Group companies are widely recognised for their trade advantages, which include increased revenues, economies of scale, and business diversification. Often,...
The 5% tax applies to parking/storage fees
The Income Tax Act (ITA) mandates a 5% withholding tax on any payments made for the use of land or...
Heirs don’t pay most inheritance taxes
Transactions involving the transfer of ownership of immovable property may trigger a tax known as transfer duty, which is payable...
No CGT exemption on company-owned houses
The Income Tax Act generally provides tax relief for individuals who sell their houses, regardless of the motive behind the...
The tax treatment of IFRS 16 adjustments
As the International Financial Reporting Standards (IFRS) gain widespread adoption globally, it is crucial for companies to understand the tax...
Declare VAT on foreign interest income
The Value Added Tax (VAT) Act generally prohibits VAT-registered individuals from levying and reporting VAT on exempt supplies, such as...
