Dear Subscriber,

Last week, I spoke about some exciting changes with regards to the 2007 tax submissions, and the new income tax assessment process that has been put in place this filing season by SARS.

The SARS eFiling facility via the Internet remains the easiest and quickest way for taxpayers and practitioners to file returns as it eliminates paperwork and allows the fastest processing times. It also reduces volumes to be processed manually, thereby improving manual turnaround times. SARS is introducing a range of enhancements to the eFiling facility to further encourage use of this facility.

Feedback from users last year indicated that the registration process for eFiling was a disincentive for use. This year the registration has been simplified with security being enhanced using third party data verification.

Tax practitioners have engaged with SARS to provide an easier and more efficient objection and appeal process. To further encourage eFiling, the facility is to be expanded to provide taxpayers with the ability to electronically lodge objections and appeals via eFiling.

Read more about filing your tax returns this year on the SARS website: http://www.sars.gov.za

Tax Issues
The advance tax ruling system is a new addition to the Income Tax Act. Liesl Kruger, director at Cliffe Dekker will discuss this matter on Tax Issues. Click here for a summary of the full interview. Tax Issues is broadcast on Mondays at 20h40 and again at 22h40 on SUMMIT TV (DSTV CHANNEL 55).

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Until next week.
Janine Connor
Head of TAXtalk

Dee Bezuidenhout, Editor-in-chief, The Practical Vat Handbook - Fleet Street Productions

Who doesn´t begrudge handing over a chunk of their hard earned cash to the taxman? We generally accept taxes are a necessary economic evil and occasionally we experience, first hand, the benefits of the billions of rands worth of taxes collected annually. Yet the country still faces the same crises: poor education, abject poverty, terrifying crime.

Interview with Liesl Kruger, director at Cliffe Dekker

As from October 2006 tax rulings by SARS have become formalised and binding through the advance tax ruling system. Liesl Kruger, director at Cliffe Dekker discussed this matter on Tax Issues, broadcast on Summit TV.

eTaxjobs is a global job portal exclusively for tax professionals, and an online resource for employers and recruitment firms to advertise their vacancies. eTaxjobs operate in the UK, Europe, USA, Canada, Australia, New Zealand, Africa and around the World.

Available tax jobs for this week are:

• Global Transfer Pricing Opportunities, PwC, Australia, Austria, Belgium, Canada, China, Cyprus, Finland, France, Germany and many more locations
  
  
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• Global Merger & Acquisition Tax Opportunities, PwC, China, Middle East, Russia, Poland, Czech Republic, France, Germany, HK, Kazakhstan

Sanchia Temkin -Professional Services Editor - Business Day

A NEW code of ethics for auditors would strengthen reporting requirements and increase investor confidence, said Kariem Hoosain, CEO of the Independent Regulatory Board for Auditors (IRBA), yesterday.

Mike Holmes, Journalist

President Thabo Mbeki´s economic advisor until late 2004, Professor Wiseman Nkuhlu, said not long ago ... “It is an idea our government must consider.”. He was referring to a grand scale small and medium enterprise (SME) strategy for South Africa proposed by a senior French banker.

Sanchia Temkin, Professional Services Editor - Business Day

ALTHOUGH the majority of South African companies (86%) consider tax risk management to be important to their organisations, only 19% have a formal tax risk strategy in place, according to research released by Deloitte yesterday.

From personal individual tax to significant company tax changes - the subject is a hotly debated issue throughout South Africa´s corporate environment. Tax Issues - every Monday at 20h40pm and again at 22h40pm - demystifies some of the latest developments and issues being discussed in the corridors of power. Tax Issues will cover; The impact of pending new tax laws on individuals and companies, The capital gains tax debate, New SARS initiatives to collect tax Changes to tax benefits, The VAT vs personal tax debate.

Do you have something to say? Do you have an area of interest or expertise that you believe is something you can contribute for the interest of our readers? Do you want to share your views with like-minded people?

If so, send your submissions by email to (janine@taxtalk.co.za), fax (27 11 476 5004) or post (P.O. Box 1650, Gallo Manor 2052) and be heard!

We will publish the best stories and viewpoints on our website &/or in our weekly newsletter.