The Master of the High Court has been directed to de-registered trusts who are in non-compliance with the Financial Intelligence Act (FIA) 2012.
Effective 1 February 2021 the Ministry of Finance intends to expedite the pay-outs of undisputed Value Added Tax (VAT) refunds, to within three months following the receipt of a credit VAT return.
Taxpayers can rest easier at night as the Ministry of Finance announced an electronic filing Tax Relief Programme for outstanding taxes yesterday.
As announced in July this year, taxpayers will no longer be required to submit import value-added tax returns. ITAS has introduced a function which populates your import VAT return based on what is on the Asycuda (Automated Systems for Customs Data) system.
The system automatically submits and assesses your return on the 1st of the month following the import.
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