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2022 Legal and Policy

Legal and Policy - 27 January 2022

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SARS:

  • 26 January 2022 – The Commissioner of the South African Revenue Service (SARS), Mr Edward Kieswetter, has committed the SARS Customs division to scale up digital transformation and to increase the use of data to improve the facilitation of trade, revenue collection and improve compliance by traders who import and export goods across South Africa’s borders.

See the full media statement here.

Final Response Document on the 2021 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill, 2020 Draft Taxation Laws Amendment Bill, 2020 Draft Tax Administration Laws Amendment Bill – 25 January 2022

Explanatory Memorandum on the Taxation Laws Amendment Bill, 2021

Memorandum on the Objects of the Tax Administration Laws Amendment Bill, 2021​

  • 25 January 2022 – Three assignees were removed from the Prohibited and Restricted list as instructed by the Department of Agriculture, Land Reform and Rural Development.
  1. Nejahmogul Technologies and Agric Services (Pty) Ltd
  2. Product Control for Agriculture (PROKON)
  3. Impumelelo Agribusiness Solutions Holdings (Pty) Ltd)

See the updated Prohibited and Restricted Imports and Exports list.

  • 25 January 2022 – A former employee of the South African Revenue Service (SARS) Bilal Shaik has received a 12-year custodial sentence for fraud, forgery, uttering and money laundering, amounting to R6-million.

Shaik was sentenced for facilitating fraudulent VAT refunds to three companies. However, the money eventually ended in the bank account of Shaik who used the proceeds for personal gain.

See the full media statement here.

  • 25 January 2022 – The 2021 edition provides an overview of tax revenue collections and tax return information for the 2017 to 2021 tax years, as well as the 2016/17 to 2020/21 fiscal years.

Revenue collections in the 2020/21 fiscal year were severely impacted on by the COVID-19 pandemic lockdown restrictions and an already struggling economy that contracted by 7% in 2020. Total tax revenue collections for 2020/21 declined by 7.8% to R1 249.7 billion from the R1 355.8 billion collected in the previous year.

For more information, see the full media statement here.

Or visit the Tax Statistics webpage.

  • 25 January 2022 – The published Advance Import Payment guide has been changed to align with the wording of Rule 120.13.05. The policy has been revised to remove the reporting requirements between the South African Reserve Bank and SARS as this requirement will be implemented with the next phase.

BCR 074 – Employee share incentive scheme – shares in a foreign company

  • 20 January 2022 – The latest SMME Connect newsletter issue one deals with a few topics including a smarter SARS making compliance easier, beginning with the essentials and SARS’s continued commitment to increase clarity and certainty.
  • 20 January 2022 – National Legislation: The following Amendment Acts were promulgated on 19 January 2022:
  • Act No 19 of 2021 – Rates and Monetary Amounts and Amendment of Revenue Laws Act, 2021
    (GG 45786 – 19/01/2022) [was B21—2021, tabled on 11/11/2021; passed (unchanged) by NCOP on 15/12/2021]
  • Act No 20 of 2021 – Taxation Laws Amendment Act, 2021
    (GG 45787 – 19/01/2022) [was B22—2021, tabled on 11/11/2021; amended B22B—2021 passed by NCOP on 15/12/2021]
  • Act No 21 of 2021 – Tax Administration Laws Amendment Act, 2021
    (GG 45788 – 19/01/2022) [was B23—2021, tabled on 11/11/2021; passed (unchanged) by NCOP on 15/12/2021]

NATIONAL TREASURY:

OECD:

ATAF:

African Tax Officials receive TADAT training as the year kickstarts for ATAF – 26 January 2022

SARB:

Exchange Control Circulars

Exchange Control Circular No. 3/2022 – Securities Control – Authorised Dealer branches appointed as Authorised Banks

SAFLII:

Commissioner for the South African Revenue Services v Esibonga Investment (Pty) Ltd and Others (16177/21) [2021] ZAWCHC 250 (2 December 2021)

AuthorSAICA
Date27 January 2022