Namibia: Best Practice On Staying VAT Compliant

The VAT Act contains several prescribed methods on treating VAT, accounting for VAT and declaring VAT. Considering the fast pace at which business is conducted daily, here are some useful tips on ensuring your business maintains momentum while being on the right side of the Act.
10 Important Principles
1. VAT registered entities collect VAT (output tax) on behalf of Government – please make sure that you pay it over on time, otherwise penalties and interest […]

By |September 5th, 2012|

Argentina: Importers Under Increased Financial Pressure – Income Tax And VAT Collections To Be Raised

The Federal Tax Authority provided for an increase in VAT and Income Tax rates collected by the Customs Administration on imports for consumption.

On August 24, 2012, General Resolution No 3373/2012, issued by the Federal Tax Authority (Administración Federal de Ingresos Públicos or AFIP) was published in the Official Gazette. This new Resolution provides for an increase in VAT and Income Tax rates collected by the Customs Administration (Dirección General de Aduanas or DGA) on imports for […]

By |September 5th, 2012|

South Africa: Born Free, Taxed To Death

The burden on people paying income tax is becoming alarming.

Born free, taxed to death. Many SA taxpayers no doubt feel this is their fate. But they are probably unaware of just how burdened they really are by taxes in their various guises and a heavier burden almost certainly lying ahead.

A handful of registered taxpayers bear the main burden of direct taxation. Based on 2010 data, taxpayers earning over R400000/year constituted 8,8% of the then […]

By |August 24th, 2012|