This July, millions of South Africans opened an SMS or email from the South African Revenue Service (“SARS”) and found that their tax return had, in effect, already been done for them. For some, this feels like a small miracle as there were no forms, no queues, no stress. For others, it raised an uneasy question: can I really trust a tax assessment I didn't prepare myself?
Companies involved in customs and excise activities operate within a highly regulated environment. Registration and licensing with the South African Revenue Service (“SARS”) is not merely a once-off administrative requirement; it gives rise to an ongoing obligation to ensure that SARS is kept informed of any material changes to the information originally provided during the registration or licensing process.
The Constitutional Court's recent judgment in Leuven Metals (Pty) Ltd v CSARS provides important guidance on the VAT treatment of refined gold supplied to prescribed purchasers. More broadly, the decision serves as another reminder that South African tax law remains firmly rooted in black-letter principles of statutory interpretation, with the text of the legislation remaining the primary determinant of tax outcomes.
Shepstone & Wylie (S&W) will not change its banking details. Any communication you receive stating we have done so will be false - please contact us immediately.
If you bank with Standard Bank, Nedbank, Investec, FNB or Absa Bank you are encouraged to pay us using the bank approved beneficiary: Shepstone and Wylie Attorneys.
If you don’t use the bank approved beneficiary option, you must always call us to verify our banking details before making any payment.