Overview
Accountants and auditors must stay informed about changes in legislation and regulations that affect their firms and the business of their clients.
Technical expert Caryn Maitland CA(SA), RA researches and summarises all relevant and important changes and presents this in an easily understandable webinar.
The webinar includes:
- A reference guide of all changes to share within the firm;
- PPT summary of all new amendments;
- Interactive session with the presenter; and
- Online Q&A.
Learning objectives
After attending this webinar you will:
- Be aware of the latest legislative changes and what it means for your business, practice, and your clients;
- Be able to inform your staff and clients on how to stay compliant;
- Adapt business models to fit new legislative landscapes;
- Receive references to documents and guides;
- Have access to your own technical resource; and
- Have access to the presenter via email for follow-up Q & A.
Course content
The following legislative, regulatory, industry standards, items and guides have been issued and/or updated during the preceding month and will be covered in the webinar:
SARS:
Guides (new, updated & issued):
VAT Reference Guide for Foreign Donor Funded Projects
VAT Rulings Process Reference Guide (Issue 2)
Updated table of interest rates - Table 3
Interpretation Notes (updated & issued):
Draft Interpretation Note – Value-added tax consequences of points-based loyalty programmes
Binding Rulings (Private/Class/General) issued:
BGR 52 – Timeframe for the export of goods by vendors affected by COVID-19
Notices and other publications issued:
Latest on the Impact of COVID-19 on SARS
Latest Tax Directives - eFiling enhancements
Update to the PAYE BRS for Employer Reconciliation
Draft rule amendment under section 38 – SACU UCR Lesotho
Taxpayers and Tax Practitioners may book an appointment in exceptional circumstances during the lockdown period
Printing of IRP5/IT3(a) certificates from eFiling has been temporarily suspended
Third Party Data Annual Submissions are open from 15 April to 31 May 2020
Employer Annual Reconciliation opened on 15 April and closes 31 May 2020
Applying for UIF during the lockdown
Tax adjustments by Minister of Finance
Cheque limits on cheque payments to SARS - 1 May 2020
Submission of supporting documents for non-eFilers during lockdown
ITAC Certificate – SARS Essential Goods List
Rule amendment to substitute Rule 24.03 to provide for the exemption of foreign-going ships or aircraft
Status overview of all DTAs and Protocols
Notices relating to COVID-19 have been published:
COVID-19 Export Control Regulation
ITAC Certificate – SARS Essential Goods list
VAT 412.11 Mapping
SARS COVID-19 related media releases
Draft bills:
Draft Disaster Management Tax Relief Bill, 2020;
Draft Disaster Management Tax Relief Administration Bill, 2020;
Draft Explanatory Memorandum on the Disaster Management Tax Relief Bill, 2020
SARS preliminary revenue outcome
Trade statistics release for February 2020
Tariff amendment notice R405 - Increase of environmental levy on plastic bags
Tariff amendment notice R406 - Increase in the general fuel levy
Tariff amendment notice R407 - Increase in the RAF levy on petrol and diesel
Tariff amendment notice R408 - Increase in emissions tax on passenger vehicles
Tariff amendment notice R409 - Increase of environmental levy on incandescent light bulbs
Tariff amendment notice R410 - Adjustment to diesel refund provisions as a result of R406 and R407
Tariff amendment notices R425, R426 and R427
Debt Relief Finance Scheme offered by the Department of Small Business Development
Part 1 of Schedule No.1 - increase the rate of customs duty on PET to 15%
Part 1 of Schedule No.1 - increase the rate of customs duty on fully-automatic top loading washing machines from free of duty to 30%
Part 1 of Schedule No.1 - implement anti-dumping duties on Soda Ash
Supreme Court of Appeal cases:
Diageo South Africa (Pty) Ltd v CSARS (330/2019) [2020] ZASCA 34 (3 April 2020)
CSARS v United Manganese of Kalahari (Pty) Ltd (264/2019) [2020] ZASCA 16 (25 March 2020)
IFRS:
Standards – What’s new?
IFRS Monthly news summaries
Accounting issues
Considering Going concern with respect to Corvid 19
Forecasting and valuations
IFRS 9 Implications (ECL)
Impairment discussions and issues
CIPC:
Notices and Practice Notes issued:
Notice 14 of 2020 – CIPC Call Centre during national lockdown
Notice 15 of 2020 – Customer transacting during COVID-19
Notice 17 of 2020 – Practice Notice 1 of 2020
Notice 18 of 2020 – Extension of submission of annual returns for Company, Close Corporation and Co-operative services.
Notice 19 of 2020 – Extension of submission of annual returns for Patents & Designs, Copyright and Trade Marks Divisions.
Other Laws & Regulations affecting your client AND impact on NOCLAR:
Disaster Management Act:
Released by the Minister for Cooperative Governance and Traditional Affairs (CoGTA) in response to COVID-19
Amended 26 March 2020 by CoGTA
Amended 2 April 2020 by CoGTA
Workplace Preparedness COVID-19 released by the Department of Employment and Labour
Disaster Management Act: Directive: Coronavirus (COVID-19) Temporary Employee/Employer Relief Scheme
Notice on compensation for occupationally acquired novel Coronavirus under COIDA
Unemployment Insurance Commissioner:
COVID-19 TERS Benefits Easy Aid Guide
Regulator news:
IRBA News & press releases:
Impact of COVID-19 on the Audit and Auditors
Impact of COVID-19 - Extension of Reporting periods
Impact of COVID-19 on the Audit Report – Going Concern
Impact of COVID-19 – File Assembly
Treasury:
Treasury Instruction No. 02 of 2020/2021: Utilisation of funds withdrawn from National Revenue Fund in terms of Section 29 of Public Finance Management Act
Media Statement: Release of the Intergovernmental Fintech Working Group’s (IFWG) Position Paper on Crypto Assets
IFWG Position Paper on Crypto Assets
Minister’s remarks for 14 April 2020 media briefing
Media Statement: Extension of deadlines for public comments on specific 2020 Tax proposals
Media advisory: Minister of Finance to brief media on recent economic developments
Media Statement: Government’s response to the rating action by Fitch Ratings (Fitch)
Media Statement: PFMA Communication to extensions during the lockdown period
Provisional Financing Figures as at 31 March 2020
PFMA exemption: Gazette 43188 – 31 March 2020
Media statement: MFMA Exemption Notice
MFMA Exemption Notice 43181
Media statement: Date extension for public comments on Draft Municipal Fiscal Powers and Functions Amendment Bill
Statement of the National Revenue, Expenditure and Borrowing as at 29 February 2020
Media statement: COVID-19 Tax Measures
Explanatory Notes on COVID-19 Tax Measures
Media Statement – Reaction to ratings action by Moody’s
Prudential Authority for Banks:
Directive 1 - Revision of the minimum LCR requirement due to COVID-19
Directive 2 - Matters related to capital relief
Directive 3 - Matters related to the treatment of restructured credit exposures
Guidance Note 3 - Application of IFRS 9 in response to COVID-19
Guidance Note 4 - Capital conservation
Basel Committee on Banking Supervision - Treatment of extraordinary support measures
Community Schemes Ombud:
COVID-19 Directive
Directive in response to COVID-19 and the 21-day lockdown
OECD:
Tax and fiscal policy should continue to support households and business through containment, then shift to bolstering recovery
Public comments received on the draft Model Rules for Reporting for Platform Operators with respect to Sellers in the Sharing and Gig Economy
Database: Tax Policy Measures in Response to Covid-19 Pandemic (Update)
OECD releases BEPS Action 14 reports for Austria, France, Germany, Italy, Liechtenstein, Luxembourg and Sweden
Tackling the coronavirus: OECD Forum on Tax Administration publishes advice on business continuity considerations for tax administrations
Global Forum publishes new peer review reports and reveals compliance ratings for eight jurisdictions
OECD issues recommendations on implications of the COVID-19 crisis on cross-border workers and other related cross-border matters
Database: Tax Policy Measures in Response to Covid-19 Pandemic (Update)
Platform for Collaboration on Tax: International organisations move to help developing countries improve tax systems
Tackling the coronavirus: OECD Forum on Tax Administration publishes actions that tax administrations are currently taking to support taxpayers
The economy has changes, so must the tax
ATAF:
ATAF and OECD join forces to address COVID-19 impact on Tax
ATAF Publishes Measures to help manage the impact of COVID-19 on Tax
The changes needed to the global tax rules if Africa is to address the tax challenges arising from the digitalisation of the economy
ATAF Statement in response to the Global Spread of the Corona Virus (COVID-19)
Tax Ombud:
Fair Play Issue 15 - Newsletter from the Tax Ombud.
FSCA publications & press releases:
FSCA expectations on insurers and financial services providers in respect of premium collection of funeral policies during COVID-19 crisis
FSCA: Extension of deadlines for statutory returns
Obtaining your CPD certificate
This webinar qualifies for 2 CPD hours with your professional body including: ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA.
All webinar attendees are issued with a CPD certificate available in an online profile.
Who should attend
- Accountants in Practice: CA(SA), PA(SA), BAP(SA), ACCA, CIMA, IAC, AGA(SA), CIS, ICBA.
- Practicing auditors, RA
- Company secretaries
- Legal advisors
- Compliance officers
Price
R 399.00 - Online admission - Individual.
R 699.00 - Online admission - Company.
Choose Individual if you would like to attend this event yourself or choose Company if you would like to share this event to with your entire firm.
This webinar is free if you are already an SAAA CPD subscriber.
Click here to find out about the Technical Resource Centre & CPD Subscription options.
Click here to create a profile and then register for the event (There is no charge to create a user profile and gain access to our free Monthly Practice Management Series).
Additional material
By attending this webinar you will be provided with:
- Summarised slide presentation,
- Detailed course material and reference documents.
- You can ask questions during the webinar via the online portal, and you will also have access to me the presenter via e-mail after the webinar.