Update to Corporate Income Tax Guide

The South African Revenue Service (SARS) has acknowledged and welcomed a recent court order concerning the proposed increase in the Value-Added Tax (VAT) rate, initially slated to take effect on May 1, 2025. While the specifics of the court order and its implications are being carefully reviewed, SARS affirms its commitment to upholding the law and adhering to judicial decisions.

They understand the significance of VAT in contributing to national revenue and will work diligently to ensure compliance and efficient administration, taking into account the court’s pronouncements and any necessary adjustments to their operational plans.

SARS is dedicated to transparency in its processes and will provide further guidance to taxpayers once the full impact of the court order is assessed and understood.