TGS South Africa News

January 4, 2018

Directors: Watch Your Liquidity and Solvency!

‘How did you go bankrupt?’ Bill asked. ‘Two ways’ Mike said. ‘Gradually and then suddenly.’ (Ernest Hemingway “The Sun also Rises”) Nothing is more demoralising than […]
January 4, 2018

How Efficient is SARS Globally?

A recent World Bank and Price Waterhouse Coopers survey, amongst other things, ranks companies in 190 countries in terms of time taken to prepare and file […]
January 4, 2018

Bitcoin: Is A Bubble Driving Up The Price?

“A bubble is an economic cycle characterized by rapid escalation of asset prices followed by — a massive selloff.” (Investopedia definition)   You come home from […]
January 4, 2018

Sugar Tax: Is It Good For Us?

“This feels like a victory for Britain’s children” (celebrity chef Jamie Oliver commenting on news that a sugary drinks levy will be introduced in the UK […]
January 4, 2018

Your Tax Deadlines for January; and New eFiling Security Measures

Provisional taxpayers who use eFiling need to submit their 2017 Income Tax Return on or before 31 January 2018. To protect taxpayers who use eFiling SARS […]
November 29, 2017

Middle Managers – They’re Vital to Your Success!

“The conductor of an orchestra doesn’t make a sound. He depends, for his power, on his ability to make other people powerful” (Benjamin Zander, Conductor and […]
November 29, 2017

Groundhog Day with SARS for Deceased Estates: Expect Delays

“A situation in which a series of unwelcome or tedious events appear to be recurring in exactly the same way” (Oxford English Dictionary definition of “Groundhog […]
November 29, 2017

Are You Part of a Product Supply Chain? Beware the CPA

The Consumer Protection Act (CPA) exposes you to some harsh remedies if, for example, a consumer suffers harm from a product supplied to him or her. […]
November 29, 2017

What’s Behind The SARS Inquiry?

The Minister of Finance has announced that the President has agreed to an independent inquiry chaired by a judge to probe why SARS is missing its […]
November 29, 2017

Taxpayers: Good News In The Season Of Good Cheer?

There are no important tax deadlines for December, so let’s look at some potentially great news for taxpayers. Could the “pay now, argue later” principle be […]
October 30, 2017

Climate Change: Make Sure Your Home is Correctly Insured

TV and other media have extensively covered natural disasters recently – fires in Knysna, storms and floods in Gauteng and KZN and then more fires along […]
October 30, 2017

Tax on Offshore Income – A Change in Plan

SARS recently issued a draft Tax Bill which proposed taxing South African residents the difference in taxation on offshore income earned. Thus, if 10% tax was […]
October 30, 2017

How are We Doing on the “Better Life Index”?

Since the introduction of double entry bookkeeping in the fifteenth century, it has been widely accepted that profit equates to value. This concept moved to nation […]
October 30, 2017

SMEs Beware: POPI is Finally Becoming a Reality

“Forewarned is forearmed” (wise old proverb) The Protection of Personal Information Act (POPI) has been in the public domain for several years and has been enacted […]
October 30, 2017

The Latest on the SVDP

Access to the Special Voluntary Disclosure Program (SVDP) closed at the end of August 2017 and the government netted a little over R1 billion. There were […]
October 30, 2017

Disappointing – SA Slips Down the World Competitive Index

Every year we report on the World Economic Forum’s (WEF) Global Competitiveness Index. This year South Africa slipped from 48th to 61st in the rankings. What […]
October 30, 2017

Your Tax Deadlines for November and “Watch Out, SARS is On The Warpath!”

Non-provisional taxpayers using eFiling or electronically submitting from a SARS office need to file their 2016/2017 Income Tax Returns on or by 24 November. Secondly, tax […]
September 28, 2017

Running On Empty: Is Our Downgrade To Full Junk Status Coming?

To date only our Rand denominated debt (about 10% of our total debt) has been classified as junk. On the 25th of October, the new Minister […]
September 28, 2017

You Don’t Need a Formal Enquiry to Dismiss an Employee

“Normally, the employer should conduct an investigation to determine whether there are grounds for dismissal. This does not need to be a formal enquiry. The employer […]
September 28, 2017

You Need Independent Directors, not Herd Mentality

“Here’s to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently.” (Steve Jobs […]
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