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South Africa

Tax Attorneys give 5 tips to guarantee a successful tax dispute process

Although tax season has come to an end and most taxpayers will breathe a sigh of relief, many others are faced with a tax assessment they did not expect. Truth be told, taxpayers should not be surprised if SARS has disallowed their tax exemptions, adjusted their tax deductions and/or raised additional taxes on assessment. More importantly, taxpayers should become familiar ... Read More »

‘Unclear’ expropriation laws could put South African banks at huge risk

The Banking Association South Africa (BASA) has welcomed the decision to explicitly provide for the expropriation of land without compensation. The association said that it supports land reform, and that South Africa has not adequately dealt with the consequences of land deprivation during apartheid and colonialism. “Land restitution, redistribution and security of tenure are means of providing vulnerable people with ... Read More »

Adapt IT sets sight outside of South Africa

DURBAN: JSE-listed ICT company Adapt IT has cast its eyes outside South Africa to realise its growth potential as the country struggles with low economic growth. Chief executive Sbu Shabalala says diversifying in these difficult times is the best way for the group to maintain its growth momentum. “The market has been tough in South Africa and we have looked ... Read More »

South African Business Confidence Hits Six-Month High in October

South Africa’s economy may be showing signs of a recovery after business confidence rose to the highest level in six months in October — a month in which President Cyril Ramaphosa hosted an inaugural investment conference and named a new finance minister. The index measuring business sentiment climbed to 95.8 from 93.3 in September, the Johannesburg-based South African Chamber of ... Read More »

How South African business leaders feel 6 months into Ramaphosa’s presidency

South African businesses show a high degree of confidence in their ability to succeed in the face of a tough economic climate. This is according to a new HSBC survey of over 8,500 companies in 34 markets. The survey was conducted between August and September and reflects sentiment among South African business some six months into the presidency of Cyril ... Read More »

South African held for drug smuggling in Indonesia

Kathlyn Dunn (28) was arrested at Lombok’s airport after arriving on a flight from Singapore on Thursday, provincial police detective chief Ricky Simon Paays told reporters. “X-ray screening at the airport found suspicious materials inside the suspect’s suitcase. Two packages containing methamphetamine were later found in the lining of her suitcase,” Paays said, adding that the offence could carry a ... Read More »

Is SA ready for foreign investment?

JOHANNESBURG: The Infrastructure Research Development Centre (IRDC) on Monday said that relying on foreign investment for economic development always comes at a price, and that South Africa should prepare itself as it is on a quest for investment. President Cyril Ramaphosa will this week convene the inaugural South Africa Investment Conference where representatives of government, business, and labour will meet ... Read More »

New incentives for key SA industries

JOHANNESBURG: Trade and Industry Minister Rob Davies said yesterday that the government was planning to introduce new incentives in key industrial sectors to revive the country’s moribund economy in an increasingly hostile international trade environment. Davies said that the government would target industries such as auto and agro-processing and continental trade relations as part of a package to draw investors ... Read More »

South African sentenced to death in Vietnam for drug smuggling

For the first few days following his disappearance‚ the family of Tyrone Lee Coetzee searched high and low for him in South Africa‚ declaring him missing. However‚ news broke that the former Ferndale High School pupil had since been sentenced to death for smuggling cocaine into Vietnam from Brazil. His sister Chantal had taken to Facebook in 2016 to plead ... Read More »

South African finance minister criticized after testimony

JOHANNESBURG: South Africa’s finance minister on Monday faced calls to resign after he acknowledged visiting the home of a business family linked to alleged corruption under former president Jacob Zuma. Opposition parties cited a South African media report that Finance Minister Nhlanhla Nene had offered to quit, saying President Cyril Ramaphosa should dismiss him to show commitment to clean government ... Read More »

City of Cape Town ranked top SA metro for doing business

Cape Town Mayor Patricia de Lille says the World Bank’s findings follow the PwC report naming Cape Town as the top opportunity city in Africa. The City of Cape Town has been ranked the number one South African metropolitan municipality when it came to the ease of doing business, according to the latest World Bank research report on Doing Business ... Read More »

Vietnam sentences SA man to death for drugs

A court in Vietnam’s Ho Chi Minh City sentenced a South African man to death after finding him guilty of trafficking nearly 1.5kg of cocaine. The Ho Chi Minh City Law newspaper said Tyron Lee Coetzee was convicted in a half-day trial. It said Lee was arrested in June 2016 upon arriving at the city’s Tan Son Nhat international airport ... Read More »

SAfrican Airways flight attendant Priya Govender admits smuggling drugs into Perth from Johannesburg

A SOUTH African Airways flight attendant has pleaded guilty to trying to smuggle 6kg of cocaine through Perth Airport. Priya Govender was arrested in August after arriving in Perth on a flight from Johannesburg with the drugs hidden inside hollowed-out books in her bags. She was due to face trial in August for importing a commercial quantity of cocaine but ... Read More »

South African sentenced to death in Vietnam for drug smuggling

For the first few days following his disappearance‚ the family of Tyrone Lee Coetzee searched high and low for him in South Africa‚ declaring him missing. however‚ news broke that the former Ferndale High School pupil had since been sentenced to death for smuggling cocaine into Vietnam from Brazil. His sister Chantal had taken to Facebook in 2016 to plead ... Read More »

African mules used to smuggle cocaine through Qatar

Manama: Up to 75 per cent of the cocaine seized at Doha airport last year was from Brazil, an official said. “We have found out that 85 per cent of the cocaine from the Latin American country was merely transiting through Doha and that it was destined for consumption in African and Asian countries,” Ahmad Al Khayarain, an official at ... Read More »

South African held for drug smuggling in Indonesia

Kathlyn Dunn was arrested at Lombok’s airport after arriving on a flight from Singapore on Thursday, provincial police detective chief Ricky Simon Paays told reporters. “X-ray screening at the airport found suspicious materials inside the suspect’s suitcase. Two packages containing methamphetamine were later found in the lining of her suitcase,” Paays said, adding that the offence could carry a death ... Read More »

A $50 billion fight over who owns South African Central Bank

JOHANNESBURG: South Africa’s Lesetja Kganyago has a fight on his hands to protect the central bank’s $50 billion of reserves. More than eight months after the ruling African National Congress decided that the South African Reserve Bank should be state-owned, like most other central banks, the governor said his main concern remains to protect the regulator’s independence and mandate. But ... Read More »

South African sentenced to death in Vietnam for drug smuggling

For the first few days following his disappearance‚ the family of Tyrone Lee Coetzee searched high and low for him in South Africa‚ declaring him missing. On Tuesday‚ however‚ news broke that the former Ferndale High School pupil had since been sentenced to death for smuggling cocaine into Vietnam from Brazil. His sister Chantal had taken to Facebook in 2016 ... Read More »

Concern over companies netting zero-rating tax benefits

There is some concern from the state-appointed panel reviewing whether to increase the basket of zero-rated VAT items about producers netting the benefit from more items being added, according to panel member Professor Imraan Valodia. In the report released by Treasury on August 10, the panel had recommended that five additional items be added to the list of zero-rated products ... Read More »

South African held for drug smuggling in Indonesia

Kathlyn Dunn was arrested at Lombok’s airport after arriving on a flight from Singapore, provincial police detective chief Ricky Simon Paays told reporters. “X-ray screening at the airport found suspicious materials inside the suspect’s suitcase. Two packages containing methamphetamine were later found in the lining of her suitcase,” Paays said, adding that the offence could carry a death penalty. Indonesia ... Read More »