Protecting the identity of a legal entity’s ultimate beneficial owner can have a legitimate purpose, yet and unfortunately, this privilege of anonymity has been misused to facilitate, amongst other crimes, fraud, money laundering and tax evasion. In December 2022 the Companies Act, no. 71 of 2008 (hereinafter ‘the Act’) was amended in efforts to address …
Meet Brezilda van Heerden, a dynamic consulting attorney at RVN, whose day begins with a cup of coffee and a burning desire to tackle new challenges. For her, success is not a distant goal but a daily accomplishment, making the most of every opportunity that comes her way. Having transitioned from practising attorney to consulting …
New Notice of Objection rules came into effect on 10 March 2023 according to the Government Gazette 48188. Among other changes, Rule 7 “Objection against assessment” now determines that the taxpayer must deliver a notice of objection within 80 days (an extension from the previous 30 days). This allows taxpayers and tax practitioners a significantly …
On 24 April 2023, SARS announced that they have made some enhancements to the Tax Compliance Status (TCS) process, with immediate effect. Previously, SARS made provision for an Emigration TCS Pin and for a Foreign Investment Allowance (“FIA”) TCS Pin. These two applications are now, effectively, one and the same, and will be referred to …
A recent decision by the Supreme Court of Appeal (SCA) in the case of Commissioner, SARS v Thistle Trust [516/2021][2022] ZASCA 153, had far-reaching implications for structures involving the layering of trusts and essentially, the continued application of the “conduit principle” or “look-through principle”. In this case, the conduit principle has been rendered inapplicable to …
It is important to prepare yourself for the new SARS requirements. SARS will now require third-party data from Trusts and Public Benefit Organisations. Currently, banks, financial institutions, medical schemes, attorneys, estate agents, and issuers of bonds, debentures, and financial products are required to file third-party returns to SARS. The third-party returns, containing information about a …
This note sets out the basic characteristics and requirements for the solar panel incentive announced by the Minister of Finance on 22 February 2023. This is meant to help individuals in their immediate decision-making, rather than postponing any solar installation until the legislative process can be finalised. What is the objective of the incentive? Government …
Solar panel tax incentive for individuals: Frequently asked questions Read More »
With over 40 years of business success, RVN has built a diverse client base across a wide range of industries, providing them with a breadth of experience and expertise. We pride ourselves on looking beyond the surface and paying attention to the details, ensuring that every benefit and risk is considered, before moving forward. As …
The Institute of Directors in South Africa (IoDSA) lays out five key trends for boards and directors to focus on in 2023. Boards need to begin planning their agendas for 2023 to ensure that they are on top of these trends—and that their members have the requisite skills to fulfil their duties. Short-sightedness is one …
Governance trends for 2023 – Is your board ready? Read More »
Breaking the dull and grey-suited stereotype Normally when people think of accountants, they think of boring people who show little emotion. This stereotype cannot be further from the truth when you meet director and partner Marie van der Walt at RVN Chartered Accountants Incorporated. Marie is known for her warmth, compassion, and welcoming personality, …
