Streamlining trust compliance in South Africa: The Xero ledger solution

In light of the evolving regulatory landscape surrounding trusts in South Africa, the Xero ledger package emerges as a pivotal tool for trustees aiming to maintain financial records meticulously. The amendments to legislation and regulations, as mentioned in our “Trusts, tax and IT3(t)’s article, (click here to read the article) underscore the heightened scrutiny on […]

Trusts, tax and IT3(t)’s

To “t” or not to “t”…, that was the question. Over the past 18 months, the reporting framework governing trusts and the ensuing burden placed on trustees have been subject to intense scrutiny following South Africa’s greylisting due to (potential) money laundering and terrorist financing activities. Newly release regulations as stipulated in Act No. 22 […]

Claiming VAT prior to registration

Are you newly registered for Value-Added Tax (“VAT”)? Did you acquire goods to set up shop before you were VAT registered and paid the VAT on those goods? Generally, input VAT can be claimed on goods or services when you are a registered VAT vendor, but the question remains: can input VAT be claimed on […]